China Raises Interest Rates on Open Market Operations, Standing Lending Facility
(Beijing) — China’s central bank has surprised the financial markets by raising interest rates on its open market operations and its standing lending facility (SLF) in its latest attempt to reduce financial leverage in the market.
On Friday, the People’s Bank of China raised the overnight interest rate on its SLF liquidity management tool to 3.1% from 2.75%. The seven-day rate was increased to 3.35% from 3.25%, and the 30-day rate was hiked to 3.7% from 3.6%, sources close to the central bank told Caixin.
- 1Hong Kong Hedge Fund Files $88 Million Lawsuit Against Elusive Businessman Guo Wengui
- 2Beijing Real-Estate Slump Deepens
- 3China Removes Steel Makers From ‘Qualified’ List for First Time
- 4Retraction of Cancer Papers Highlights Corruption in Chinese Academia
- 5Tianjin Rolls Out Draft Regulations on Shared Bikes