China's central bank keeps interest rates unchanged

The People’s Bank of China kept the one-year Medium-Term Credit Facility (MLF) rate unchanged at 2.75%. The People’s Bank of China injected 170 billion yuan ($25 billion) in liquidity, below market expectations of 220 billion yuan and above a maturity of 150 billion yuan. The People’s Bank of China had kept the MLF rate unchanged for the past eight months. The net $20 billion was the lowest since November. “These moves signal that the PBOC is not particularly concerned about the Chinese economy’s recovery,” Iris Pang, ING’s chief China economist, said in a note.