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China raises short-term interest rates in fresh tightening signal

PBOC hikes open market operation repo rate by 10 basis points, effective on Feb 3
Saturday, February 4, 2017 - 05:50

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Analysts say the tightening of primarily money market rates suggested the PBOC wanted to retain policy flexibility as it balances the need to keep the economy from slowing again.

Shanghai

CHINA'S central bank surprised financial markets on Friday by raising short-term interest rates on the first day back from a long holiday, in a further sign of a tightening policy bias as the economy shows signs of steadying.

While the rate increases were modest, they

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