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  • Beijing Review

    ECONOMY

    Jan 27, 2022 4 minutes

    Rate Cut

    The People’s Bank of China (PBC) on January 17 lowered the interest rate of 700 billion yuan ($110 billion) worth of one-year medium-term lending facility (MLF) to financial institutions to 2.85 percent, compared with 2.95 percent on the previous operation.

    The MLF tool was introduced in 2014 to help commercial and policy banks maintain liquidity by allowing them to borrow from the central bank using securities as collateral.

    “The PBC will use multiple monetary policy tools to maintain liquidity at a reasonable and ample level, ensure stable credit growth, and guide financial institutions to

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