PBoC holds key rate amid lacklustre GDP growth

Chinese economy grew 6.3% in second quarter, missing expectations by a full percentage point

The People’s Bank of China, Beijing
The People’s Bank of China, Beijing

China’s central bank kept a key interest rate unchanged today as the country reported weaker-than-expected GDP growth in the second quarter.

The People’s Bank of China offered 103 billion yuan ($14.4 billion) worth of one-year medium-term lending facility (MLF) loans today and kept the interest rate unchanged at 2.65%.

China’s GDP expanded 6.3% year on year in the second quarter, the latest data shows, missing analysts’ 7.3% consensus forecast.

With 100 billion yuan of MLF loans set to mature

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