Group 1 - The People's Bank of China (PBOC) announced a 400 billion MLF operation with a one-year term, indicating a net injection of 1 trillion MLF in July, marking the fifth consecutive month of increased liquidity [1] - The central bank's actions reflect a coordinated effort between monetary and fiscal policies to support credit expansion and meet financing needs of enterprises and households [1] - Despite a stable macroeconomic environment, the PBOC maintains a supportive monetary policy stance, which helps stabilize market expectations [1] Group 2 - Looking ahead, it is expected that MLF operations will continue to increase in volume, alongside reverse repos, to inject medium-term liquidity into the market [2] - The PBOC may also resume government bond trading to inject long-term liquidity into the banking system, ensuring a stable funding environment [2] - These measures aim to enhance banks' lending capabilities and support the real economy, effectively countering external economic fluctuations [2]
央行将开展MLF操作4000亿元 货币政策仍在延续支持性立场
Bei Ke Cai Jing·2025-07-24 13:42