SHANGHAI: China's central bank said on Monday it had raised interest rates on standing lending facility (SLF) short-term loans by 5 basis points (bps) on March 22.
The increase took place the day when the People's Bank of China raised another key short-term interest rate, it said in a statement on its website.
The interest rate for overnight SLF loans was raised to 3.40 percent from 3.35 percent. Rates for 7-day and one-month loans also increased by 5 bps each to 3.55 percent and 3.90 percent, respectively, according to the statement.
The PBOC's rate adjustment followed the US Federal Reserve Bank's March 21 move, in a symbolic reminder that Beijing is keeping an eye on global market trends even as it cracks down on financial risks at home.
The interest rate adjustment to the SLF loans confirmed an earlier Reuters report citing sources.
Comments
Comments are closed for this article.