China’s central bank lowered its one-year medium-term lending facility (MLF) rate by 15 bps to 2.50% to support the economy amid property crisis challenges and lagging consumer expenditure. New bank loans saw an 89% drop in July, the lowest since late 2009. Concurrently, the central bank initiated 401 bln yuan in MLF loans to financial institutions, leading to a net injection of one bln, and also added 204 bln yuan through a seven-day reverse repurchase operation, decreasing borrowing costs by ten bps to 1.8%.