Chief of Chinese central bank offers calming words on cash crunch

06/30/2013 | Yomiuri Shimbun (Japan), The

China's central bank chief, Zhou Xiaochuan, assured markets that enough money is available to avoid any risk of a crisis situation. "We will use various tools and instruments and make timely adjustment of market liquidity to maintain the overall stability of markets," Zhou said, according to the text of the speech on the central bank's website. The remarks came after interbank rates last week soared as high as 13.4% from the normal 2% to 3%.

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Yomiuri Shimbun (Japan), The

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