China central bank injects $47.2 billion via medium-term loans, rate unchanged -statement

SHANGHAI (Reuters) - China's central bank injected funds through medium-term loans into the financial system on Tuesday, while keeping the interest rate unchanged.

The People's Bank of China (PBOC) said it was keeping the rate on 300 billion yuan ($47.19 billion) worth of one-year medium-term lending facility (MLF) loans to some financial institutions steady at 2.85%, as widely expected.

The 300 billion yuan injection exceeds the 200 billion in such loans maturing this week.

In January, the PBOC unexpectedly cut the one-year MLF rate 10 basis points to 2.85% from 2.95% previously, alongside a 10 basis-point cut in the seven-day reverse repurchase agreement rate.

The central bank also injected 10 billion yuan worth of seven-day reverse repos into the banking system, against 20 billion yuan in such loans maturing Tuesday.

($1 = 6.3567 Chinese yuan)

(Reporting by Andrew Galbraith; Editing by Muralikumar Anantharaman)

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