Economics
PBOC Confirms New Liquidity Tool as It Holds Off Easing
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China’s central bank has published details on its latest tool to provide liquidity as banks from Goldman Sachs Group Inc. to Australia & New Zealand Banking Group Ltd. see a rate cut as unlikely.
The People’s Bank of China confirmed it pumped 769.5 billion yuan ($126 billion) into the country’s lenders in the last two months through a newly-created Medium-term Lending Facility. The PBOC injected 500 billion yuan in September and another 269.5 billion yuan in October via the facility -- all termed at three months with an interest rate of 3.5 percent.