PBoC holds key rate despite uneven economic recovery
Central bank likely to keep MLF rate unchanged before Fed cuts rates, analysts say
The People’s Bank of China (PBoC) kept a key interest rate unchanged for the eleventh consecutive month today (July 15), even though new data suggests the economy remains weighed down by weak consumption and the downturn in the property sector.
The central bank offered 100 billion yuan ($13.8 billion) of one-year medium-term lending facility (MLF) loans to some financial institutions at 2.5% interest, a rate that has remained unchanged since August 2023.
With 103 billion yuan of MLF loans expiring
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Monetary Policy
Fed likely to cut rates in September – FOMC minutes
Participants at July meeting said they would need greater confidence inflation was falling
Bank of Korea holds policy rate
MPC members open to cutting rates in next three months, despite concerns over rising home prices
Lending spreads may dampen monetary policy – research
Rate hikes appear to have been muffled and cuts might be too, say Kansas City Fed authors
Bank Indonesia keeps rates unchanged
Central bank sees room for cuts in fourth quarter, governor says
Bank of Thailand holds rates at 2.5%
Change of government poses uncertainty over major cash handout plan
Bank of Jamaica delivers first rate cut in two years
Inflation should remain within target despite Hurricane Beryl, MPC says
NY Fed chief unveils real-time reserves calculation framework
John Williams and fellow researchers cite five measures of reserves’ ampleness or scarcity
Turkey keeps interest rates unchanged
Central bank says people’s inflation expectations are more pessimistic than its own