Chinese Central Bank Surprisingly Raised 1-Year Benchmark Interest Rate To 6.06%
POBC raised key one-year lending rate for 0.25% to 6.06%. Timing of the announcement came as a surprise to the markets, as the rise was expected further into the first quarter.
To repeat: Raising interest rates and stalling real-estate prices are a bad cocktail. I will cover China even more extensively next year, as big things could come from here.