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China’s central bank adds liquidity at unchanged policy rates

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China’s central bank on Monday injected liquidity into the nation’s financial system via its monetary instruments at unchanged interest rates, signaling a hold on benchmark lending rates this month after June’s cuts.

The People’s Bank of China injected 103 billion yuan ($14.42 billion) of liquidity via the one-year medium-term lending facility at an interest rate of 2.65%. It also provided CNY33 billion of funds through seven-day reverse repurchase agreements at an interest rate of 1.90%.

Both interest rates were steady from the previous operation after the PBOC cut the rates by 10 basis points last month, which later guided the benchmark loan rates lower.

The hold on key policy rates came as Beijing released weaker-than-expected growth data in the second quarter, when consumption, private investment and foreign trade slowed.

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