This guy keeps on delivering! With the comments anyway ...

  • Will use targeted RRR cuts, RRR cuts, and lower real interest rates to help reduce funding costs for small firms

In summary, the notable comments relevant to forex from Li. These covered in earlier posts but collating them here:

  • Will not resort to competitive yuan devaluation,
  • Will keep yuan at a reasonable equilibrium level
  • Will keep economic growth stable
  • PBOC will maintain prudent monetary policy

And now the RRR comments:

  • will use targeted RRR cuts
  • will broader RRR cuts
  • lower real borrowing costs to SMEs

His speech is over, about to launch into the Q&A now. Stay tuned!