Tech

China goes bullish on blockchain

China wants to embrace blockchain, the technology that verifies cryptocurrency transactions. An official from China’s state bank urged the country’s commercial banks to “step up their application” of blockchain and “embrace digital finance.” The official’s remarks come after Chinese President Xi Jinping said China must make “greater effort” to develop […]
China goes bullish on blockchain
Markets

China has just raised its short-term interest rates

The People’s Bank of China (PBOC) has made a slight upward change to inter-bank lending rates. China’s seven-day reverse repo rate was bumped up to 2.55%, from 2.5%. Reverse repos are used by central banks to drain liquidity from a nation’s financial system. The move was expected by markets, as […]
China has just raised its short-term interest rates
Markets

China just lifted interest rates

China has raised borrowing costs for open market operations, following the US Fed’s rate hike earlier this morning. The People’s Bank of China (PBOC) raised the short-term 7-day reverse repo rate by 5 basis points to 2.50%, ForexLive reported. China’s central bank also increased its medium-term lending facility by 5 […]
China just lifted interest rates