SHANGHAI : China's central bank rolled over maturing medium-term policy loans while keeping interest rate unchanged for a sixth straight month on Friday, matching market expectations.
The People's Bank of China said it was keeping the rate on 100 billion yuan worth of one-year medium-term lending facility loans to some financial institutions unchanged at 2.85 per cent from the previous operation. In a poll of 29 market watchers conducted this week, all respondents forecast no change to the MLF rate.
With the same amount of such MLF loans maturing on Friday, the operation resulted in a zero net cash injection into the banking system. The central bank also injected 3 billion yuan through seven-day reverse repos while keeping borrowing cost unchanged at 2.1 per cent, according to an online statement.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China property protests threaten to dent $220 billion of banks' mortgage loansHONG KONG : Chinese banks are set to take a hit to asset quality from mortgage business as growing numbers of homebuyers threaten to stop loan repayments to protest against unfinished apartments, analysts said.The mortgage bad-loan ratios for banks could rise three- to five-fold as a result of homebuyers
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Taiwan says Foxconn needs govt approval for any China chip firm investmentTAIPEI : Taiwan's Foxconn, the world's largest contract electronics maker, would need Taiwanese government permission if its unit were to invest in embattled Chinese chip conglomerate Tsinghua Unigroup, a government official said on Thursday.Taiwan media has reported that Foxconn's China-listed unit Foxco
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
China June fiscal revenues rise 5.3% y/y, excluding VAT credit rebatesBEIJING : China's fiscal revenues rose 5.3 per cent in June from a year earlier, after excluding the impact from VAT credit rebates, the finance ministry said on Thursday.For the first half of the year, fiscal revenues increased 3.3 per cent after deducting the impact from tax credit rebates, while fiscal
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »