中国人民银行今日宣布，为了维护银行体系的流动性合理充裕，开展20亿元公开市场逆回购操作和1250亿元中期借贷便利（MLF）操作。此次MLF操作的期限为一年，中标利率分别为1.8%和2.5%。
这是本月MLF的等量平价续作。尽管当前市场对于降准降息的预期较为强烈，但是此次MLF操作的中标利率并未发生变化，显示了央行在当前经济形势下的稳健态度。
值得注意的是，此次MLF操作的利率仍处于历史较低水平，这也意味着年内降准降息仍有可能。在当前经济复苏基础尚不牢固的情况下，央行将继续通过货币政策来保持流动性的合理充裕，以支持经济的稳定增长。
MLF作为央行重要的货币政策工具，其操作的变动对于市场流动性有着重要影响。此次MLF等量平价续作，既体现了央行对当前经济形势的判断，也表明了央行将继续关注市场流动性变化，适时进行调整，以保持流动性的合理充裕。
总体来说，此次MLF操作符合市场预期，对于稳定市场预期，保持经济稳定增长具有积极意义。在当前经济形势下，央行将继续密切关注经济运行情况，灵活运用货币政策工具，为经济的稳定增长提供有力支持。
英语如下：
**Title:** “Central Bank Conducts MLF Operations at Par Value, Possibility of Rate Cuts Remains”
**Keywords:** MLF rollover, interest rates unchanged, expectations of rate cuts
**News Content:** The People’s Bank of China (PBOC) announced today that it has conducted 20 billion yuan of open market reverse repurchase operations and 1250 billion yuan of medium-term lending facility (MLF) operations to maintain reasonable ample liquidity in the banking system. The term of this MLF operation is one year, with bid rates of 1.8% and 2.5% respectively.
This month’s MLF operation was a par value rollover. Despite the strong market expectations for reserve requirement cuts and interest rate reductions, the bid rate for this MLF operation did not change, showing the central bank’s prudent stance in the current economic situation.
It is worth noting that the interest rate of this MLF operation is still at a historically low level, which also means that there is still a possibility of reserve requirement cuts and interest rate reductions before the year is out. In the current situation where the foundation of economic recovery is not yet solid, the central bank will continue to maintain reasonable ample liquidity through monetary policy to support stable economic growth.
As an important monetary policy tool of the central bank, the changes in MLF operations have a significant impact on market liquidity. This time, the MLF par value rollover reflects the central bank’s judgment of the current economic situation and also indicates that the central bank will continue to monitor changes in market liquidity and make adjustments in a timely manner to keep liquidity at a reasonable level.
Overall, this MLF operation aligns with market expectations and has positive significance for stabilizing market expectations and maintaining stable economic growth. In the current economic situation, the central bank will continue to closely monitor economic operations, flexibly use monetary policy tools, and provide strong support for stable economic growth.
【来源】http://www.chinanews.com/cj/2024/05-16/10217477.shtml
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