The central bank of China kept the medium-term lending facility rate steady on Friday after a reduction of 30 basis points last month.
The People’s Bank of China has maintained the medium-term lending facility rate at 2.0 percent.
Today, the central bank carried out a seven-day reverse repo operation worth CNY 292.6 billion at an interest rate of 1.5 percent, stating its intention to ensure sufficient liquidity in the banking system as the month concludes.
In September, the bank decreased the MLF rate from 2.3 percent, marking the first cut since July.
Earlier this month, PBoC Governor Pan Gongsheng indicated the possibility of a further reserve requirement ratio reduction by 0.2-0.5 percentage points at an appropriate time, depending on market liquidity before the close of the year.
Latest official data revealed that the world’s second-largest economy grew at its slowest rate in over a year, with the property sector remaining the primary obstacle to growth.
GDP growth slowed to 4.6 percent in the third quarter, down from 4.7 percent in the prior quarter. Beijing is targeting approximately 5 percent growth for this year.
For comments and feedback, please contact: editorial@rttnews.com
Business News
