Caixin with the report of a speech from head of the monetary policy department at the People's Bank of China
Sun Guofeng spoke on Tuesday
- PBOC will maintain a "normal," "steady" and "flexible" monetary policy in response to increasing economic uncertainties amid the Covid-19 pandemic.
- "To cope with all sorts of uncertainties, monetary policy requires greater certainty"
- He also said he expected lower rates for business
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The background to this is the PBOC avoiding negative rates and QE. So far at least. Any acceleration of easing in China should be a positive input for AUD and China-proxy trades in general.
