CHENGDU, Feb.6 (NBD) -- China raised MLF interest rate before the Spring Festival. And it continued its prudent monetary policies by raising SLF and repo interest rates in recent days. Then what does it mean to the market?

Wan Zhe, a researcher of Chongyang Institute for Financial Studies of Renmin University of China, noted that the rate hikes in fact are the macro policies pledged on the economic conference last years. Fed's interest hikes will put great pressure on RMB exchange rates. And China's economy is going through structural reforms.

The current rate hikes are monetary policies to tighten liquidity, which may not have big impacts on the real economy and individuals as well. The priority is to reduce systematic risks. So, it needs more targeted and stronger regulations, Wan added.

NBD also interviewed many private placement agents. Most of them hold that China's interest rate hikes may have big impacts on bond and property markets, but limited impacts on the A-share market.

Email: tanyuhan@nbd.com.cn