People’s Bank of China (PBOC) is set to leave the rate on its one-year policy loans – the medium-term lending facility (MLF) – steady at 2.5 per cent on the first working day after the Lunar New Year holiday ends.
China's central bank maintained the rate on medium-term lending facility unchanged unexpectedly on Monday as any reduction would add downward pressure on the renminbi.
China has slashed a benchmark interest rate in response to mounting economic woes in yet another sign that Beijing is concerned about its country’s trajectory.