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PBOC says money market liquidity still adequate
Peoples Bank of China just out on reuters says management of open market operations will be stable in 2013; advises investing institutions to reduce extreme leverage to avoid liquidity shocks; main reason for recent rate increases was market underestimating tax payments and other short term factors; open market operations focussed on domestic and international liquidity conditions and pressure from capital inflows; Further to their adding liquidity earlier
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