More on PBOC liquidity. The official, Ling Tao, said the PBOC will guide rates to a "reasonable...

|By:, SA News Editor

More on PBOC liquidity. The official, Ling Tao, said the PBOC will guide rates to a "reasonable range" - although he didn't provide details about what that meant - will be flexible in managing interbank liquidity, and will attempt to stabilize expectations. Ling also said seasonal factors are partly the reason for the high inter-bank rates. These soothing words seem to have done the trick for the moment, because markets remain calm.