-- The People’s Bank of China will likely inject ample liquidity into the money market after interest rates surged on Tuesday, according to a person close to the central bank, as state media blamed financial institutions for “disturbing” the market.Money market rates will likely retreat toward the rates used in the central bank’s open market operations from Wednesday, said the person, who asked not to be identified. Liquidity in the banking system is relatively abundant, the person added.
The report tried to downplay overall market risks. “Only a small number of nonbank institutions and asset management products are financing at high interest rates. The number and amount of transactions account for a low proportion of the entire market,” it said. Meantime, China’s latest economic data signaled continuing challenges. The country’s factory activity fell back into contraction in October, while an expansion of the services sector unexpectedly eased — suggesting that the is in need of support, according to the official manufacturing purchasing managers’ index released Tuesday.
In the restaurant industry, stability is critical.So when David Ferguson noticed an unexpected $200 charge on his credit card bill from the tech company he uses to help manage his business, he figured it was an accounting mistake.Ferguson is the chef and owner at Gus, a small restaurant in Montreal's Petite-Patrie neighbourhood.He started using Lightspeed, a publicly traded Canadian point-of-sale supplier, about four years ago.