Chinese Short Term Interest Rates Hit 8% During Cash Crunch

"Cash Crunch" Gives Birth to 8% Short-Term High Yield (“钱荒”催生银行短期理财8%超高收益率)

The excerpt from the article says recently matured short-term deposits products (30 to 40 day deposits) yielded above 5%, a very rare occurrence, with one third of the products yielding above 6%. The average yield in the first half of 2013 was 4.4%.

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