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China interbank rates fall, easing credit crunch fears
POSTED: 21 Jun 2013 1:45 PM
snip
The soaring cost of borrowing has led to a credit crunch, which has sending stocks tumbling and means banks are unable to lend.
However, Chinese media reports said Friday that the central bank had injected 40 billion yuan ($6.3 billion) into several banks to relieve the cash crisis.
snip
The economy, the world's second largest and a crucial driver of global growth, expanded 7.8 per cent in 2012, its worst performance in 13 years.
POSTED: 21 Jun 2013 1:45 PM
snip
The soaring cost of borrowing has led to a credit crunch, which has sending stocks tumbling and means banks are unable to lend.
However, Chinese media reports said Friday that the central bank had injected 40 billion yuan ($6.3 billion) into several banks to relieve the cash crisis.
snip
The economy, the world's second largest and a crucial driver of global growth, expanded 7.8 per cent in 2012, its worst performance in 13 years.
