SHANGHAI, April 16 (Reuters) - China’s central bank raised interest rates on 14-day reverse bond repurchase agreements by 5 basis points (bps) on Monday, matching a hike in the seven-day tenor in March.
The interest rate for 14-day reverse repos was raised to 2.70 percent from 2.65 percent, the People’s Bank of China said in a statement on its website.
The rate for seven-day stood at 2.55 percent, according to the statement.
The PBOC raised the seven-day rate in March, following the U.S. Federal Reserve Bank’s March 21 move, in a symbolic reminder that Beijing is keeping an eye on global market trends even as it cracks down on financial risks at home.
On Monday, the PBOC injected 150 billion yuan ($23.89 billion) into money markets via seven-day and 14-tenors. ($1 = 6.2799 Chinese yuan) (Reporting by Winni Zhou and Andrew Galbraith Editing by Shri Navaratnam)