With CNY 500 billion of MLF loans set to expire this month, the biggest medium-term liquidity injection since 2020 of CNY 289 billion from the PBoC today limited the downside momentum as policymakers maintained the interest rate.
The decision came after China’s banks extended CNY 2.31 trillion in new yuan loans in September 2023, which was a jump from August’s CNY 1.36 trillion, amid intense efforts from the central bank to bolster economic recovery.
Currency: (CNY:USD)
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