23/12/13 Market Movements
The FTSE 100 today closed up 64.45 points at 6.671.03 as signs of the improving economic growth in the US encouraged investors whilst news of the Chinese credit squeeze took the edge off the gains.
Nothing to report today
The Peoples Bank of China today announced It would be pumping further liquidity into the market to counter concerns that China’s financial sector is heading for the same fate that the Western Banks experienced during the financial crisis of 2007-08.
China’s interbank rate (the rates at which banks lend to each other) peaked at 9.8% on Monday despite the central bank’s £50bn cash injection last week.