China’s economy is on the verge of a painful credit crunch

2017-03-23T06:53:28-07:00

MarketWatch - 3/23/2017 - Joseph Andinolfi - China’s 7-day repo rate rocketed to its highest level since late 2014 earlier this week. One of China’s most widely used interbank borrowing rates surged to its highest level since late 2014 earlier this week, stoking worries that a painful credit crunch could be looming as the country’s central bank moves to tighten monetary conditions, according to a research note from Goldman Sachs. China’s seven-day repurchase (repo) rate shot to 5.5% on Tuesday from 3.85% on Monday, before settling at 5% on Wednesday. For anyone who follows Chinese politics, the sudden jump in interest rates is hardly surprising: At an annual meeting of China’s parliament that concluded a week ago, the country’s leaders said that tackling risks related to the country’s growing pile of risky debt would become a priority. Read more @ http://www.marketwatch.com/story/chinas ... 2017-03-22

Statistics: Posted by McFurd — Thu Mar 23, 2017 7:53 am

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China’s economy is on the verge of a painful credit crunch