Bank of China Leaves Interest Rates on Medium-Term Loans Untouched to Preserve Liquidity in the System

The People’s Bank of China (PBOC) left its medium-term lending rate unchanged today for the third consecutive month, as expected. The decision came despite the Chinese government’s call for the PBOC to take more monetary stimulus measures to support the slowing economy.

The PBOC said it would leave the interest rate on one-year medium-term loans worth 150 billion yuan ($23.52 billion) to some financial institutions unchanged at 2.85%.

Investors and analysts expected the PBOC to leave the key interest rate unchanged.

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