China's central bank tightened monetary policy by raisingthe interest rates it charges in open-market operations and onfunds lent via its Standing Lending Facility as it shifts toreining in asset prices and inflation.
The People's Bank of China increased the costs of seven-, 14-and 28-day reverse repurchase agreements by 10 basis points each to2.35%, 2.5% and 2.65%, respectively, according to a statement onits website. This is the first increase since 2013 for the twoshorter tenors, and the first such move since 2015 for the 28-daycontracts.
The SLF rate was increased to 3.1% from 2.75%, according topeople familiar with the matter who declined to be identifiedbecause they're not authorized to speak publicly.
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