Business
China’s rate rumble trumps GameStop sideshow – The Australian Financial Review
The spike in China’s overnight rate highlights Beijing’s challenge in reining in leverage.
What makes the recent spike in rates so interesting is that the PBOC usually ensures the banking system is flush with liquidity ahead of the Lunar New Year, a time when people tap their savings to buy gifts for friends and family.
Chinese policymakers are clearly concerned about the impact on asset prices as Chinas credit impulse swelled throughout 2020 as Beijing moved to revive growth.
PBOC adviser Ma Jun warned last week about asset bubbles, arguing the risk would depend on whether monetary policy…
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