Heads up for a key China interest rate change indicator - is due imminently

We'll get an update on the People's Bank of China (PBOC) medium-term lending facility (MLF) on Friday, 15 July 2022.

Around 0100 GMT.

Polls I have seen are unanimous for no change in the interest rate on the one-year medium-term lending facility (MLF). Its currently 2.85%.

• 100 billion yuan worth of maturing policy loans are due on Friday
• Expectations are that amount will be rolled over

The MLF rate is a key indicator of next week's (Wednesday the 20th) lending benchmark loan prime rate (LPR). This is (loosely) pegged to the medium-term policy rate.

• one and five year LPRs will be set on the 20th.

Also coming up today is a barrage of economic data Economic Data Economic data typically comes in the form of news releases that are disseminated daily. This information is extremely valuable to retail and institutional forex traders, given the influence such data has on currency rates.Most of the major economic events that are released are reported by sovereign governments throughout the globe. Moreover, there are several economic data points that are released by private organizations that can also move the market.By and large, when new information becomes a Economic data typically comes in the form of news releases that are disseminated daily. This information is extremely valuable to retail and institutional forex traders, given the influence such data has on currency rates.Most of the major economic events that are released are reported by sovereign governments throughout the globe. Moreover, there are several economic data points that are released by private organizations that can also move the market.By and large, when new information becomes a Read this Term from China:

• Here is whats on the economic calendar in Asia Friday, 15 July 2022 - China focus

People's Bank of China Governor Yi Gang: