China Central Bank to Change Timing of One-Year Loan Operation, Bloomberg Reports

---The People's Bank of China is planning to shift the date on which it injects liquidity via the medium-term lending facility from to the 25th of each month from the 15th, Bloomberg reports, citing people familiar with the matter.

--The change will take effect as early as August as part of the PBOC's efforts to downplay the role of the medium-term rate and use a shorter-term rate to guide markets instead, according to Bloomberg.

--The move aims to slowly delink the MLF from China's benchmark lending rates, known as the loan prime rates, which are published on the 20th of every month, Bloomberg reports.

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(END) Dow Jones Newswires

08-01-24 0026ET