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The latest rate hike from the People’s Bank of China (PBoC), in response to the Fed’s 25 bps rate increase, shows China’s determination to continue with monetary tightening going forward, says DBS. Hours after the Fed’s quarter percentage-point move, the PBoC edged borrowing costs higher, with the 7-day reverse repo rate, 28-day reverse repo rate, and 1-year rate of medium-term…
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