China's central bank stabilises money market

The PBoC finally intervened Tuesday evening to calm markets, reassuring banks that it was prepared to relieve temporary liquidity shortages.

China's central bank stabilises money market
PBoC: Providing liquidity

China’s one-week repo rate climbed to 9.8% during the morning session on Wednesday, despite the central bank’s intervention to ease the interbank credit crunch.

The People’s Bank of China PBoC indicated in a statement Tuesday night that it had been providing liquidity support to some financial institutions during the past few days, and said it would take similar moves to relieve temporary liquidity shortages in future to support banks that have a healthy balance...

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