PBOC injects 100bn yuan via a 1-year MLF, unchanged rate of 2.85%

People's Bank of China Medium-Term Lending Facility (MLF)

• 100bn yuan
• one year maturity
• rate of 2.85%, unchanged from the previous MLF
• there is a 100bn MLF maturing this month

The unchanged rate will dampen expectations of a cut to the 1- and 5-year Loan Prime Rates (LPR) setting coming from the PBOC on the 20th (i.e. Friday this week).

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Earlier post on interest rates in China:

• Weekend - China allowed a further cut in mortgage loan interest rates for some home buyers