Investor Alert

New York Markets After Hours

Market Pulse Archives

June 14, 2018, 3:25 a.m. EDT

PBOC stands pat on rates, fails to follow Fed as usual

Watchlist Relevance

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Hang Seng Index (HSI)
  • X
    Shanghai Composite Index (SHCOMP)

or Cancel Already have a watchlist? Log In

By Sara Sjolin

The People's Bank of China on Thursday decided not to follow the U.S. Federal Reserve in raising interest rates, defying expectations that the Chinese policy makers would follow their usual pattern and respond with small hikes to Fed moves. The Chinese central bank's decision to stand pat came as data for May indicated the economy is losing steam, with readings on retail sales and fixed asset investments both missing forecasts. Hong Kong's Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI -1.09% dropped 1%, while the Shanghai Composite Index /zigman2/quotes/210598127/delayed CN:SHCOMP -0.29% slipped 0.2%. The Fed on Wednesday lifted interest rates for the second time this year and hinted another two hikes could be on the cards later in 2018.

HK : Hong Kong Exchange
-184.25 -1.09%
Volume: 2.48M
Dec. 4, 2023 4:08p
CN : China: Shanghai
-8.72 -0.29%
Volume: 28.82B
Dec. 4, 2023 3:00p

This Story has 0 Comments
Be the first to comment
More News In
Economy & Politics

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.