Comments from an unnamed (so far) PBOC official crossing on the Bloomberg
- Says China spillover effect was exaggerated
- Says China's monetary policy does not include QE
.... OK, the official is Assistant Governor Yin Yong
More:
- Says China's interest rate level is still normal
- Balance sheet has narrowed, not expanded
- China still has relatively big room on interest rates
- China has ample liquidity in FX
- China's FX reserves can support PBOC FX market operations
- Banks Reserve Ratio still at a relatively high level
Yong dropping hints of further cuts to come?