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China’s PBOC Leads the Fed in Weaning Economy Off Stimulus

The People's Bank of China As China's Suppressed Market Rates Leave Room for Policy Tightening
Photographer: Qilai Shen/Bloomberg
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China’s central bank is a step ahead of its U.S. counterpart in reining in its Covid-19 emergency stimulus, relieving potential market pressure from the Federal Reserve’s looming shift in policy.