China's central bank reduced its medium-term borrowing cost on Wednesday, in an attempt to mitigate the downturn caused by the coronavirus pandemic.
The People's Bank of China on Wednesday said it trimmed the one-year medium-term lending facility, or MLF, rate to 2.95 percent from 3.15 percent. The bank injected CNY 100 billion through the MLF operation.
In March, the PBoC had reduced the reserve requirement ratio for qualified banks and the reverse repo rate.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.