Core Viewpoint - The People's Bank of China (PBOC) is implementing measures to maintain ample liquidity in the banking system, including a 600 billion yuan Medium-term Lending Facility (MLF) operation scheduled for August 25, 2023 [1] Group 1: MLF Operations - On August 25, the PBOC will conduct a 600 billion yuan MLF operation with a one-year term, utilizing a fixed quantity, interest rate bidding, and multiple price bidding methods [1] - With 300 billion yuan of MLF maturing this month, the net MLF injection for August is expected to reach 300 billion yuan, aligning with market expectations and marking the sixth consecutive month of increased MLF operations [1] Group 2: Liquidity Measures - As of August 22, the PBOC has also conducted a net injection of 300 billion yuan through reverse repos, leading to a total net liquidity injection of 600 billion yuan for August, which is double that of the previous month [1] - Analysts anticipate that the PBOC will continue to utilize various monetary policy tools to enhance short- to medium-term market liquidity and maintain a moderately accommodative monetary policy [1]
央行开展6000亿元MLF操作 保持银行体系流动性充裕
Jin Rong Shi Bao·2025-08-25 02:27