Reuters: Money News: China cash rates lower as central bank promises to backstop market

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China cash rates lower as central bank promises to backstop market Jun 26th 2013, 03:24 SHANGHAI (Reuters) - China's short-term borrowing rates fell for a fourth day on Wednesday morning after the central bank appeared to admit it had underestimated the severity of a credit crunch last week and had already provided extraordinary support to some institutions.

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