PBoC Follows Fed Hikes

Reuters: China, following Fed, lifts short-term rates to steady yuan, battle debt
China's central bank raised short-term interest rates on Thursday in what economists said was a bid to stave off capital outflows and keep the yuan currency stable after the Federal Reserve raised U.S. rates overnight.

The increase in rates was China's third in as many months, and came a day after the end of the annual session of parliament where leaders warned that tackling risks from a rapid build-up in debt would be a top policy priority this year.

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