Reuters: Money News: China's central bank inflicts pain on banks to rein in credit

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China's central bank inflicts pain on banks to rein in credit Jun 21st 2013, 04:28 SHANGHAI (Reuters) - The Chinese central bank's determination to rein in rapid credit growth has sent interbank interest rates to record highs, creating panic and rumours of possible default as some banks scramble to secure short-term funds.

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