Via MNI:

Remarks from Yao Jingyuan, a researcher with the Counselor's Office of the State Council (& former chief economist at the National Bureau of Statistics):

  • China has sufficient liquidity and normal growth
  • No need to cut the reserve requirement ratio or the interest rate,
  • China now needs to steadily push supply-side reform

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To the extent traders of the AUD are looking for more China monetary stimulus such commentary is a negative input for the AUD.