The open market reverse repo (Omo) interest rate and the medium-term lending facility (MLF) interest rate were lowered at the same time as expected, which was the second time in the year that the short and medium-term policy interest rates fell after January this year< Br > < div class = "height" > < / div > on August 15, the central bank launched a 400 billion yuan medium-term loan facility (MLF) operation (including the continuation of the MLF due on August 16) and a 2 billion yuan open market reverse repurchase operation. The bid winning interest rates were 2.75% and 2.0%, respectively, which were 10 basis points lower than the previous period. In view of the expiration of RMB 600 billion MLF, the net withdrawal of MLF this month is RMB 200 billion< Br > < div class = "height" > < / div > after the simultaneous reduction of short – and medium-term policy interest rates, the market expects that the LPR will be reduced in August, and the probability of asymmetric reduction of LPR over 5 years as the benchmark of mortgage interest rate pricing is greater< br>