China central bank soothes after stock plunge | Bangkok Post: news

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China central bank soothes after stock plunge

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China's central bank said Tuesday it saw an end to a liquidity crisis and offered to support banks, after stocks closed at a level unseen since the global financial crisis in 2009. 

A man gestures as he watches stock activity at a stock exchange in Huaibei, north China's Anhui province on June 24, 2013. China's central bank has predicted an end to a liquidity crisis and offered to support banks, after stocks closed at a level unseen since the global financial crisis in 2009.

For more than two weeks, funds have been in short supply on China's interbank market and the interest rates banks charge to lend to each other have surged to record highs.

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