PBoC appears to have snugged policy – BBH

Analysts at BBH note that China's central bank appears to have snugged policy and by that they mean rates edged slightly higher, but not an actual rate hike.  

Key Quotes

“The PBOC increased the rate of its open-market operations and in its medium-term lending facility.    The move appeared small-around five basis points.  The announcement on its website suggested the adjustment would help investors "form reasonable expectations for interest rates," and discourage "excessive leverage."  Separately, China reported slightly slower industrial output and fixed asset investment, while retail sales rose (10.2% year-over-year from 10.0%).”