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China's central bank raised short-term interest rates a day after the Federal Reserve lifted U.S. rates. The move was the third increase in as many months and aimed to stem capital outflows and steady the yuan.
Tighter Chinese money conditions and a steadier yuan can slow capital flight and support import demand, but higher rates also slow the economy that drives feed demand. The move reduces the chance of a sharp yuan slide.
business-standard.comReutersMar 16, 2017After 362 past bearish macro events, Chinese Yuan (CNY per USD) moved a median -0.1% over 5 sessions (42% higher; middle half -0.4% to +0.1%), and -0.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
