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 cabinet said on Wednesday that there will be ‘timely’ reduction in reserve requirement ratios (RRR) and other policy tools to support the economy, which could include cuts to key policy interest rates as early as Friday.