China’s State Foreign Exchange Administration (SAFE) announced that they are determined to closely monitor the impact of the US Federal Reserve’s (Fed) tightening of monetary policy.

SAFE spokesman Wang Chunying told reporters that SAFE will closely monitor the pace at which the Fed adjusts monetary policy, which could affect global financial markets.
“In fact, the Fed is faced with the dilemma of keeping inflation under control and stabilizing the economy. We will pay close attention to external changes, evaluate the impact in a timely manner, to prepare to effectively prevent and mitigate external shocks,” Chunying said.
Investors expect the Fed to raise interest rates by 75 basis points at its monetary policy meeting next week.