China lifts short-term rates for 3rd straight month – Reuters

Reuters offering more insights on the latest PBOC action, where the Chinese central bank hiked short-term interest rates to stem capital outflows.

Key Headlines:

China's central bank raised short-term interest rates on Thursday

Economists said was a bid to stave off capital outflows and keep the yuan currency stable

The increase in short-term rates was China's third in as many months

"The higher U.S. rates and tightening of U.S. monetary policy could trigger further capital outflows and have some negative impact on China's financial system," Nomura economist Yang Zhao said."I think they want to stabilise the currency at this time."

The People's Bank of China (PBOC) also strengthened the yuan's daily mid-point reference rate CNY=PBOC by the most in about two months on Thursday.

Full read here