China Drains Cash Via MLF for Second Month Amid Yuan Concern [Yahoo! Finance]
ING Group, N.V. (ING)
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Source: Yahoo! Finance
(Bloomberg) -- China withdrew cash from the banking system for a second consecutive month, signaling its caution toward monetary easing as currency depreciation pressures mount. Most Read from Bloomberg Israel Versus Iran — What All-Out War Could Look Like Texas Warns of Possible Power Emergency Next Week Iran's Missile Barrage Was an Error Israel Can Gain From Israel Grapples With New Phase in Its Multi-Front War With Iran A $150 Billion Fortune Bolsters Qatari Royals at Critical Moment The People's Bank of China drained a net 70 billion yuan ($9.7 billion) of cash via its medium-term lending facility, while holding the interest rate on its one-year policy loans at 2.5%. The operation came even after inflation stalled last month, fueling calls for more stimulus. Officials also reduced liquidity in March via the MLF for the first time since late 2022. The authorities are facing an increasingly difficult task of managing economic risks and dealing with policy divergenc
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