Banks have been scrambling for funds of late amid unusually tight liquidity. They could have reasonably assumed that the People’s Bank of China, which looks after this sort of thing, might give them a helping hand and inject funds into the market. Instead, the central bank thumbed its nose at them on Monday, announcing it would sell a small amount — 2 billion yuan ( $323 million ) of central bank bills into the interbank market Tuesday, draining funds despite tight credit conditions. It has people wondering if the central bank is saying problems created by the market should be sorted out by the market. Looking at ... (full story)