PBOC adviser says the bank is to wait for Q4 data before considering more cuts via ForexLive

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

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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

posted via ForexLive