Economics
China Money Rates Sink to Two-Week Lows on Cash-Injection Signs
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China’s benchmark money-market rates dropped to two-week lows on signs policy makers used targeted cash injections to ease the worst cash squeeze on record.
About 50 transactions for overnight funds in the interbank market were recorded in the final 90 minutes of trading in Shanghai over the past four trading days at rates of 4 percent or less, data compiled by Bloomberg show. The average was 5.08 percent. The central bank said June 25 that it had provided funding to some financial institutions to stabilize interbank lending rates and would use short-term liquidity operations to ensure steady markets.