PBOC says its raised rates, but by less than the market expected
- China raises 7-day reverse repo rate by 5 basis points to 2.50 percent
- Raises one-year MLF interest rate by 5 basis points to 3.25 percent
- People's Bank of China injects 288 bln yuan through 1-year MLF
PBOC says injected funds via MLF and reverse repos to meet seasonal liquidity demand at financial institutions
- says upward adjustment of interest rates reflects supply and demand in the market
- says rate rise is a normal market reaction to Fed's rate increase
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MLF is the 'medium term lending facility'
more to come from China: Heads up for China data due at the top of the hour