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