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Analysis

China's 'Surprise' Rate Hike: Another Step Toward Normal

By Adam Wolfe

EXECUTIVE SUMMARY

The People’s Bank of China (PBoC) hiked the one-year deposit and lending rates by 25 basis points (bps) after the local markets closed on October 19. In contrast with consensus, RGE had been foreseeing a modest hike to the lending and deposit rates—a stance we reaffirmed in our…

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