Here’s what spooked Chinese stocks today — new Chinese inflation data comes out this Thursday and already the central bank has warned that it will do whatever it takes to control inflation.
China will maintain a high alert for inflation risks and will not leave inflation unchecked, Ma Delun, deputy governor with the People’s Bank of China, or the central bank, said Tuesday.
The central bank will closely watch the market and carry out open market operations to reach the goals set for the currency policies, Ma said at a forum held in Beijing.
This is why some traders are freaked out about another surprise interest rate hike.
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