China rate rise 'not necessarily' yuan-related

An unnamed IMF official was quoted on Friday 29 October as saying that China's interest rate increase on Thursday 28 October did "not necessarily" mean a shift in the country's fixed exchange rate regime.

Reuters quoted the official as saying that the move, the first in nine years, was potentially more of a market-oriented response by the Chinese to manage their economy and maintain a stance of monetary policy.

According to Reuters, the official said the rate increase may replace other measures