The People’s Bank of China will raise borrowing costs in the open market if the U.S. Federal Reserve decides to increase rates this week, according to a Bloomberg survey. A majority of 31 economists said the PBOC will increase by five basis points the rate it charges on reverse-repurchase agreements, which guide funding costs in financial markets, after the Fed’s expected tightening. That decision is due to be announced around 2:00 a.m. Beijing time on Thursday, with a potential PBOC step coming as early as that day. Meanwhile, a similar share of economists said the PBOC will further lower reserve-requirement ratios ... (full story)