China’s central bank has come to the rescue of some banks in need of cash and says it will inject more into the money market if needed, The Wall Street Journal reported, citing an official statement released late Tuesday. It was the first signal from the People’s Bank of China (PBoC) that it would not let a cash shortage in the interbank market persist after stock prices in China and abroad slid on fears of a cash crunch. In the PBoC statement, it said it would provide cash to banks with healthy balance sheets.
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