China's Central Bank Infuses Cash: Unchanged Rates on Loans

The People's Bank of China maintained the rate on medium-term loans and injected additional funds via reverse repos. Rates on both the one-year medium-term lending facility and seven-day reverse repos remained unchanged, demonstrating ongoing financial stability efforts.

The People's Bank of China (PBOC) maintained its steady approach on Monday by rolling over maturing medium-term loans while also injecting substantial liquidity into the market. The central bank said it kept the interest rate steady on 300 billion yuan ($42.11 billion) worth of one-year medium-term lending facility (MLF) loans at 2.30%.

In a concurrent move to ensure market stability, the PBOC injected an additional 471 billion yuan through seven-day reverse repo operations, keeping borrowing costs unchanged at 1.70%. These actions underline the PBOC's commitment to steady monetary policy amid ongoing economic fluctuations.

By keeping the rates steady and infusing more liquidity into the financial system, the central bank aims to balance the dynamics of economic growth and monetary stability. The exchange rate stands at $1 equal to 7.1244 Chinese yuan.

(With inputs from agencies.)