People's Bank of China inject 499 bn yuan
- vs. 300 bn yuan maturing
- for 1 year
- rate unchanged at 2.75%
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The MLF rate is a benchmark interest rate that banks in China can use to borrow funds from the central bank for a period of 6 months to 1 year. The rate is typically announced on the 15th of each month.
The MLF rate sets the scene for the monthly Loan Prime Rate (LPR) setting on the 20th.
The MLF rate was unchanged in January, as were the LPRs:
3.65% for the one year
4.30% for the five year
