China may raise money market rates after Fed: central bank adviser

BEIJING (Reuters) – China’s central bank could opt for small interest rate increases in its open market operations if the U.S. Federal Reserve raises rates, a central bank adviser said in remarks published on Wednesday.

But there is no need for the central bank to follow the Fed’s rate hikes in the long term, Sheng Songcheng, an adviser to the People’s Bank of China (PBOC), told the Chinese financial news outlet Yicai in an interview.

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