The People’s Bank of China (PBOC) granted one-year loans through its medium-term credit facility (MLF) on Friday, while injecting 100 billion yuan and keeping the loan rate unchanged at 2 , 95%.
“The second phase of reducing the reserve requirement ratio (RRR) came into effect on Friday.”
RRR reduction frees about 200 billion yuan or long-term liquidity. “
AUD / USD reaction
The AUD / USD pair is out of the low but is trading flat near 0.6460, pending a further boost in Chinese data transfer.