PBOC Injects CNY 398 Bln Yuan via 1-year MLF, Rates unchanged

The Chinese central bank, PBOC, is out with a brief statement, announcing that it injected CNY 398 billion via one-year medium-term lending facility (MLF).

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There has been a relatively big drop in total liquidity in banking system.

Rate unchanged from previous 12-month MLF.

Says relatively big drop in banking system total liquidity - due to tax payments, maturing loans, RRR payments from financial institutions.