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  • Reuters

    China central bank unexpectedly conducts medium-term loan operation, cuts interest rate

    By Reuters,

    1 day ago
    https://img.particlenews.com/image.php?url=0gjxaP_0ucNamoQ00

    SHANGHAI (Reuters) -China's central bank unexpectedly conducted a medium-term lending facility (MLF) operation on Thursday and cut the interest rate, following a string of other rate reductions earlier this week.

    The People's Bank of China (PBOC) said it lowered the rate on 200 billion yuan ($27.5 billion) of one-year MLF loans to some financial institutions by 20 basis points to 2.30%, according to an online statement.

    It also injected 235.1 billion yuan through seven-day reverse repos at 1.70%.

    ($1 = 7.2625 yuan)

    (Reporting by Shanghai Newsroom; Editing by Tom Hogue)

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