<p>People's Bank of China inject 499 bn yuan </p><ul><li>vs. 300 bn yuan maturing</li><li>for 1 year</li><li>rate unchanged at 2.75%</li></ul><p>–</p><p>The MLF rate is a benchmark interest rate that banks in China can use to borrow funds from the central bank for a period of 6 months to 1 year. The rate is typically announced on the 15th of each month.</p><p>The MLF rate sets the scene for the monthly Loan Prime Rate (LPR) setting on the 20th.The MLF rate was unchanged in January, as were the LPRs:3.65% for the one year4.30% for the five year</p>
This article was written by Eamonn Sheridan at www.forexlive.com.
Source link
