- Won’t change prudent monetary policy
- Warns of downward pressure on the economy
- Economic growth still reasonable
- Price pressures have been retreating
- Says bank rate liberalisation to boost consumption
- Calls rate cut a “neutral”operation
- Will no longer publish a 5 year deposit rate
Comments from the PBOC after cutting rates
They’re trying to dress it up as something else other than easing but we know the old saying, “you can’t polish a turd but you can cover it in glitter”
