Earlier headline is here on the People's Bank of China nudging rates a little higher today:

Bloomberg now with a bit more etc if you are interested:

  • The cost of seven-day and 28-day reverse-repurchase agreements was raised by five basis points. That followed an increase in mid-March.
  • The cost of funds lent via MLF was also increased by five basis points, with the 1-year rate raised to 3.25 percent.
  • "This action seems to follow the Fed," said Raymond Yeung, chief greater China economist at Australia & New Zealand Banking Group Ltd. "Since it only lifted the rate by just five basis points the central bank does not want to jeopardize the market with an aggressive hike. It does indicate the tightening bias of the policy makers and this stance will continue in 2018."

Full piece is here


The Financial Times have a piece up also, noting that

  • This was the third such rise for repos this year after a move in March that followed a Fed rate rise.

and the People's Bank of China

  • had not adjusted these rates in June after the Fed's last interest rate hike.

Financial Times piece is here, may be gated