China reacts to Fed rate hike by nudging up key policy rate

The People's Bank of China said Thursday it was responding to market forces by raising the rate charged by its one-year lending facility by 0.05 percentage points to 3.25 percent.

By: AP | Beijing | Published: December 14, 2017 9:51 am

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The People’s Bank of China said Thursday it was responding to market forces by raising the rate charged by its one-year lending facility by 0.05 percentage points to 3.25 percent. (Reuters/File)

China’s central bank has responded to the U.S. Federal Reserve’s interest rate increase by nudging up a key policy rate on lending to commercial banks but left the benchmark rate for borrowing by companies and the public unchanged.