Via Reuters:
China’s key short-term money rates leapt to their highest in nearly five months on Wednesday, as the central bank drained funds for a third day, keeping up the pressure on financial institutions to scale back more speculative forms of financing.
Similar bouts of tightness in June and July had raised fears of a cash crunch that led to the People’s Bank of China (PBOC) pumping money into the markets to keep rates under control.
