PBOC cuts one-year MLF rates to 2.5% from 2.65%

On Tuesday, China's central bank, the People’s Bank of China (PBOC), lowered the one-year Medium-term Lending Facility (MLF) rate to 2.50% from 2.65% previous.

The PBOC announcement was beyond the market expectations and triggered the cautious optimism.

Market reaction

USD/CNY is trading listlessly near 7.2285 on the above announcement.