PBOC cuts one-year MLF rates to 2.5% from 2.65%
|On Tuesday, China's central bank, the People’s Bank of China (PBOC), lowered the one-year Medium-term Lending Facility (MLF) rate to 2.50% from 2.65% previous.
It's worth noting that the PBoC also cuts the reverse repo rate to 1.8% from 1.9% previously.
Furthermore, the Chinese central bank also announces multiple reductions in the Standing Lending Facility rates (SLFs).
The PBOC announcements were beyond the market expectations and triggered the cautious optimism but failed to defend the Chinese Yuan (CNY).
Market reaction
USD/CNY is trading listlessly near 7.2285 on the above announcement.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.