China ordered lenders to set aside more cash as reserves after inflation accelerated to the fastest pace in almost three years in May and industrial production rose more than estimates.
A half percentage point increase announced by the central bank on Tuesday and effective June 20 will take the ratio to a record 21.5 percent for the biggest lenders.
China’s interest-rate swaps surged and bonds slumped after the central bank announcement.
Source:
Bloomberg
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