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?