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Economy

xchrom

(108,903 posts)

14. China move calms credit concerns

Reply to Tansy_Gold (Original post)

Tue Dec 24, 2013, 07:23 AM

Dec 2013

http://www.bbc.co.uk/news/business-25503584

China's central bank has pumped $5bn (£3.1bn) into the banking system to ease concerns over a credit squeeze that has caused rising interest rates.

The People's Bank of China did not explain its actions, but over the last few days there has been growing concern over the availability of credit.

That has been reflected in the interest rates banks charge each other.

On Monday one important benchmark rate rose to its highest level since June, the height of China's credit crunch.

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