Chen Yulu, who is on the PBOC’s monetary policy committee:
- Says the bank will wait until fourth-quarter economic data is out and monitor U.S. and Japanese monetary policy before considering any more rate cuts or easing
- “Regarding the next step, whether to cut rates again or take similar action, we still need to look at the fourth quarter’s macroeconomic index”
- He was speaking on the sidelines of an economy and finance forum in Beijing
via Reuters and Bloomberg
–
More added;
- “It is also important to make decisions taking into account Japanese and US monetary policy”
- He didn’t believe that Friday’s benchmark lending rate cuts represented a change in monetary policy, echoing the central bank line
