People’s Bank of China (PBOC) Yi says any China Stimulus should be very cautious

People’s Bank of China (PBOC) Yi Gang:

• Says any China Stimulus should be very cautious
• Says China shift to medium-high growth is normal
• Yuan decline is basically a market movement
• He is ‘perfectly fine’ with recent yuan decline
• Recent yuan volatility is ‘no big deal’
• Says that growth in China either a little bit more, or a little bit less, than 7.5% is ‘acceptable’

Premier Li dampened hopes of a stimulus yesterday: China Premier Li: says will not take short term stimulus measures to deal with short term volatility