It may well be that they dont want people to be suckered into a false stock-market rally. The comment reinforces the reform credibility of the new administration, Condon said. M2 money supply rose 14 percent in June, the Peoples Bank of China said today in Beijing, down from a 15.8 percent pace in May, the biggest slowdown in more than two years. A cash squeeze designed to stamp out speculation sent interbank borrowing costs to the highest in at least a decade. Aggregate financing, the governments broadest measure of credit, was 1.04 trillion yuan ($169 billion), down from 1.78 trillion yuan in June 2012.