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China tightens monetary policy going into 2017

It raises the rates for the seven-day repurchase agreement and the 14- and 28-day repo rates by 10 basis points each

Published Tue, Feb 7, 2017 · 09:50 PM
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Beijing

THE raising of two key interest rates by China's central bank last Friday signalled an end to its loose monetary policy and a shift of focus for this year from growth to preventing asset bubbles and deleveraging.

The surprise move by the People's Bank of China (PBOC) marked the raising of the two rates for the first time since 2013.

The rate for the seven-day repurchase agreement went up from 2.25 per cent to 2.35 per cent.

The …

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