China's central bank cuts MLF rate by 30bps

(Source: baha news)
EPA-EFE/WU HONG

The People's Bank of China (PBoC) decided to cut its one-year medium-term lending facility (MLF) loan rate on Wednesday from 2.3% to 2%.

The bank cut the rate on 300 billion yuan ($42.66 billion) of one-year MLF loans by 30 basis points.

The move comes just a day after the central bank announced a slew of monetary easing measures.

Baha Breaking News (BBN) / KA