China’s central bank just announced another hike in reserve requirements by 50 basis points, according to CNBC. The new requirements will take effect on Nov. 29.
This is the second hike in two weeks.
Although the hike could have a negative impact on markets, a measure of this kind was expected. As of 5:45 EST the Shanghai composite is rising, up 0.81%.
The other big tightening measure announced this morning was a tax change to slow property sales in Hong Kong.
Recently, China also announced a change in tax policy to end breaks for companies with foreign investment, according to the Global Times. Clearly this is another small step to slow down growth.
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