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The People’s Bank of China (PBOC) extended one-year loans through its medium-term lending facility (MLF) on Monday while keeping the lending rate unchanged at 3.15%. 

The lending rate on one-year MLF was reduced to 3.15% from 3.25% last month, in the face of the coronavirus outbreak.

AUD/USD reaction

AUD/USD trades above 0.61, having dipped briefly below the latter after the RBA said its ready to launch the QE program and ease rates further if needed to combat the virus fallout on the economy. Focus on China data dump. 

 

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