PBOC sells CNY400 billion via one-year MLF at 2.75%

The People’s Bank of China (PBOC) sold CNY400 billion via one-year medium-term lending (MLF) facility on Monday.

The Chinese central bank cut the rate for one-year MLF operation rate to 2.75% vs. 2.85% previous. The PBOC broke the status-quo after the fifth straight meeting.

The PBOC slashed its 7-day reverse repos to 2% vs. 2.10% prior.