Citing two traders with the direct knowledge of the matter, Reuters reports that the People’s Bank of China (PBOC) is said to inject liquidity into the markets on Wednesday by conducting the Medium-Term Lending Facility (MLF).
The MLFs are three, six and 12 months loans to the banks and the current rate of one-year is 3.25%.
Meanwhile, the USD/CNY pair is seen reversing Tuesday's slide to five-month lows, now trading around 6.8910, up 0.12% on the day.
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