Group 1 - The People's Bank of China (PBOC) announced a 400 billion medium-term lending facility (MLF) operation to maintain liquidity in the banking system, with a one-year term [1] - The MLF operation on December 25 follows the maturity of 300 billion MLF, resulting in a net liquidity injection of 300 billion for the month, which is a decrease of 300 billion compared to the previous month [1] - Analysts suggest that the decrease in government bond net financing and potential reserve requirement ratio (RRR) cuts in Q1 2024 may influence liquidity management strategies [1] Group 2 - The Central Economic Work Conference emphasized the continuation of a moderately loose monetary policy, focusing on stabilizing economic growth and reasonable price recovery [2] - It is anticipated that the PBOC will utilize various liquidity tools to inject short- to medium-term liquidity into the market, maintaining a stable and ample funding environment [2] - This approach is expected to support the smooth issuance of government bonds and encourage financial institutions to increase credit lending [2]
MLF将连续第十月加量续作 12月份净投放量1000亿元
Xin Hua Cai Jing·2025-12-24 14:42