China may be ready to curb some of the excess liquidity sloshing in the banking system as it turns its focus to mitigating risks in the financial industry. The first sign of that could come at Monday’s medium-term lending facility operation. Eight out of 12 economists and analysts polled by Bloomberg are forecasting that the People’s Bank of China (PBoC) will withdraw cash through MLF for the first time this year by offering less cash than the 600bn yuan ($89bn) maturing this month. The median estimate is for a 400bn yuan injection, and all of those polled expect the rate to be kept unchanged. The shift in the central bank’s operations indicates that Beijing is now prioritising limiting fin
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