China central bank leaves medium-term rate unchanged

 China’s central bank left a medium-term rate unchanged as expected on Monday when rolling over maturing medium-term loans.

The steady medium-term lending facility (MLF) rate was in line with market expectations, as narrowing interest margins at lenders and a weak Chinese currency continue to limit Beijing’s ability to use monetary easing to shore up the sputtering economy. Meanwhile, the central bank has been working to avoid money idling in the financial system.