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PBOC Raises Interest Rates on Standing Lending Facility Loans

China’s central bank raised interest rates for standing lending facility loans, aimed mainly at small- and medium-sized financial institutions, it announced Saturday.

The People’s Bank of China increased the rate for overnight SLF loans by 0.2 percentage points to 3.3 percent effective from March 16, it said in a statement on its website. The bank raised the rate for 7-day loans to 3.45 percent and the 1-month rate to 3.8 percent.