Dow Jones Newswires

May 15, 2022, 10:00 p.m. EDT

China PBOC Keeps Key Policy Rates Unchanged

China's central bank kept its key policy interest rates unchanged Monday, suggesting that it may maintain benchmark loan rates at the same level as last month.

The People's Bank of China kept the interest rate of the one-year medium-term lending facility unchanged at 2.85%, while injecting 100 billion yuan ($14.7 billion)of liquidity into the banking system via the MLF.

The PBOC also maintained the interest rate of the seven-day reverse repurchase agreement at 2.1% while injecting CNY10 billion of funds via the monetary tool, according to a brief statement on its website.

This may mean the central bank would likely hold the benchmark loan rate--loan prime rate--unchanged this month, as the LPR is priced based on the MLF interest rates.

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