China follows US Fed's decision to strengthen monetary policy

Rates on SLF borrowings with tenors from overnight to a month went up by the same amount

China’s central bank edged borrowing costs higher after the Federal Reserve’s decision to tighten monetary policy.

Hours after the Fed’s quarter-percentage-point move, the People’s Bank of China increased the rates it charges in open-market operations and on its medium-term lending facility, though making smaller adjustments than the US central bank. 

China also boosted rates on another policy tool, the standing lending facility, according to two people familiar with the matter, who asked not to be named as they’re not authorised to talk to media.

Investors took the news in stride. Analysts said the modest moves show the PBOC wants to balance the need