People’s Bank of China (PBOC)’s Hu: Prudent monetary policy unchanged

People’s Bank of China (PBOC)’s deputy governor Hu Xiaolian speaking in Beijing. Headlines on Bloomberg & Reuters:

• Prudent monetary policy unchanged – no need to dajust monetary policy direction
• China’s nob market is in a good situation
• GDP growth around 7.4% is reasonable
• Rate cut will help economic growth
• PBIC has various tools to provide liquidity, can use all possible tools under prudent policy
• it is a problem that cooling inflation is lifting real interest rates