---
title: "\"Rate cut\"! The People's Bank of China has lowered the MLF rate by 10 basis points and injected a net of 37 billion yuan."
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/90235074.md"
description: "The People's Bank of China conducted a 1-year MLF operation of CNY 237 billion, with a winning bid rate of 2.65%, down 10 basis points."
datetime: "2023-06-15T01:46:39.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/90235074.md)
  - [en](https://longbridge.com/en/news/90235074.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/90235074.md)
---

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# "Rate cut"! The People's Bank of China has lowered the MLF rate by 10 basis points and injected a net of 37 billion yuan.

On June 15th, the People's Bank of China conducted a 237 billion yuan one-year MLF operation to hedge the 200 billion yuan MLF due today, achieving a net injection of 37 billion yuan. The winning bid rate was lowered by 10 basis points to 2.65%, down from 2.75% previously.

At the same time, the People's Bank of China conducted a 2 billion yuan 7-day reverse repurchase operation today, with a winning bid rate of 1.90%, unchanged from the previous rate.

In the announcement, the central bank stated that in order to maintain reasonable and sufficient liquidity in the banking system, the People's Bank of China conducted a 237 billion yuan medium-term lending facility (MLF) operation and a 20 billion yuan open market reverse repurchase operation on June 15, 2023, fully meeting the needs of financial institutions. The specific situation is as follows:

Previously, the central bank lowered both the OMO rate and the standing lending facility rate. On June 13th, the winning bid rate for the central bank's open market reverse repurchase (OMO) operation was lowered by 10 basis points to 1.9%, followed by a rate cut for the standing lending facility, with the overnight period lowered by 10 basis points to 2.75% and the 7-day period lowered by 10 basis points to 2.9%.

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