The People’s Bank of China (PBOC) injected CNY600 billion via one-year medium-term lending (MLF) facility on Tuesday.
The Chinese central bank issued the one-year MLF at 2.95%, unchanged from the previous operation. The PBOC kept the rates unchanged for the fifth month in a row.
There is CNY170 billion reverse repo maturing today and CNY200 billion MLF loans will expire on September 17.
USD/CNY is under pressure amid widening China-US bond yield spread while the Chinese currency shrugs-off the latest PBOC operation. The spot trades 0.17% lower at 6.7966, at the time of writing.