By Sherry Qin
China's central bank kept a key policy rate steady on Friday while injecting liquidity into the financial market, signaling that it may hold benchmark rates unchanged for longer.
The People's Bank of China injected 200 billion yuan, or about $27.44 billion, via the medium-term lending facility at an interest rate of 2.0% and a maturity of one year, it said in a brief statement.
The rate was the same as last month.
After the operation, outstanding MLF loans stood at 4.294 trillion yuan, said the central bank.
The MLF has historically been used to price China's benchmark lending rates. But the PBOC has been moving away from that and toward linking benchmark rates with the interest rates of a shorter-term monetary policy tool.
Write to Sherry Qin at sherry.qin@wsj.com
(END) Dow Jones Newswires
01-23-25 2102ET