China's interbank interest rates surged again on Monday despite hefty cash injections last week by the central bank, suggesting money market stress remains as authorities maintain a prudent stance. The seven-day repurchase-agreement rate -- a benchmark for interbank borrowing costs -- rose to 9.8 percent, the highest since it hit 11.62 percent on June 20 at the peak of China's summer cash crunch that unnerved global markets, according to Dow Jones Newswires. "The spike in interbank rate indicate...
China's interbank interest rates surged again on Monday despite hefty cash injections last week by the central bank, suggesting money market stress remains as authorities maintain a prudent stance. The seven-day repurchase-agreement rate -- a benchmark for interbank borrowing costs -- rose to 9.8 percent, the highest since it hit 11.62 percent on June 20 at the peak of China's summer cash crunch that unnerved global markets, according to Dow Jones Newswires. "The spike in interbank rate indicate...
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