June 15, 2022 - 11:59 AM 247 views
On Wednesday, the People’s Bank of China (PBOC) added CNY200 billion through a one-year medium-term lending (MLF) facility.
The Chinese central bank kept the one-year MLF operating rate constant at 2.85 percent. For the fifth time in a row, the PBOC kept the status quo.
The PBOC pushed 10 billion Yuan into the market via 7-day reverse repos at 2.10 percent, compared to 2.10 percent previously.
The Market Reaction
In the recent PBOC operation, the USD/CNY pair received fresh supply. Currently, the spot is trading at 6.7410, which remained unchanged for the day.
Meanwhile, the AUD/USD pair is extending its rebound above 0.6900, anticipating new encouragement from Chinese activity data. The pair is up 0.68 percent on the day.
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