China’s central bank lowered its key medium-term lending rates on Thursday, in a much anticipated move as the economy’s post-Covid recovery continues to lose momentum. The People’s Bank of China lowered the rate of one-year medium-term lending facility (MLF) loans to some financial institutions by 10 basis points from 2.75% to 2.65%. The central bank last lowered the rate on 400 billion yuan of one-year MLF loans in August, making Thursday’s move the first such cut in 10 months. China’s medium-term lending facility is a funding channel introduced to allow the central bank to inject liquidity into the banking system ... (full story)