The central bank continued to make the MLA interest rate unchanged at 187.5 billion yuan.

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The central bank continued to make the MLA interest rate unchanged at 187.5 billion yuan.

2018-12-06 10:25:19 21 ℃

SSE News The People's Bank of China announced on the 6th that the People's Bank of China has carried out the same amount of 188.5 billion medium-term loan facilities (MLF) due on the same day, and there is no reverse repurchase operation today. The MLF period for this continuation is 1 year, and the interest rate is 3.3%. It will be consistent with the previous period, and 100 billion yuan of treasury deposits will be launched tomorrow.

Yesterday, the short-term capital interest rate has increased, the Shanghai Interbank Offered Rate (Shibor) dropped 17.8 basis points overnight, and the 7-day Shibor and 14-day Shibor dropped 4 basis points and 2.8 respectively. At the same time, the inter-annual fund rate continued to rise. The 1-month Shibor was up 3.7 basis points, and the 3-month to 9-month Shibor also rose slightly.

The recent reverse repurchase of long-term repurchase and the Fed’s interest rate hike attitude turned to the market, which triggered the expectation of interest rate cuts. CITIC Securities’ fixed income chief analyst Ming Ming said that the current MLF interest rate is already at a high level to strengthen the policy. The guiding role of interest rates may have room for downward adjustment.

The MLF equivalent continuation interest rate remains unchanged today, which is basically in line with market judgment. Many interviewed analysts said that due to changes in internal and external environment, the People's Bank of China may not have corresponding In the interest rate cut operation, there are market participants who judge that the interest rate cut will occur in the second quarter of 2019.

The People’s Bank of China recently issued a document on the cancellation of the customer’s reserve account opened by the payment institution in the bank. The market is more concerned about the liquidity pressure brought by it, clearly indicating that the December reserve fund The centralized submission date is December 10th. Considering that the bank's assessment pressure is high at the end of the year and the market liquidity demand is high, it is expected that the central bank will hedge against the increase in reverse repurchase or MLF operations. (黄紫豪)