Interest rates have stayed largely stable and overall financing costs have edged down, a PBOC official said in an interview with Financial News. "The financial sector has provided solid support for the real economy...and played an important role in preventing financial risks." The PBOC has maintained a prudent and neutral monetary policy and stepped up efforts in policy fine-tuning, which "achieved sound results," the official said. M2, a broad measure of money supply that covers cash in circulation and all deposits, grew 8.3 percent year on year in May, unchanged from a month earlier. New loans went up year on year ... (full story)