China’s central bank grants medium-term lending facilities worth $18 billion

2023-05-15 13:21:55

In an effort to promote economic growth

Dubai – Al Arabiya.net

Published in: May 15, 2023: 03:29 PM GST
Last updated: May 15, 2023: 05:21 PM GST

China’s central bank injected more long-term liquidity into the financial system for the sixth consecutive month, in a bid to boost economic growth, following several indicators revealed a slowdown in economic recovery momentum.

China’s central bank offered 125 billion yuan ($18 billion) of medium-term lending facilities, 25 billion yuan more than the amount due in May.

And 80% of analysts polled by Bloomberg had expected to pump the same amount as the previous month.

The bank kept the interest rate on one-year loans at 2.75%, unchanged for the ninth month.

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