ANZ’s Liu Says Rate Cut Suggests China No Longer Fine Tuning

Liu Li-Gang, head of Greater China economics at Australia & New Zealand Banking Group Ltd. in Hong Kong, comments on China’s decision to cut interest rates for the first time since 2008.

“Symbolically this is very important as this indicates that monetary policy is no longer in a state of fine-tuning, and is now in a stage of becoming more accommodating. Inflationary pressure is falling and this sets the stage for the PBOC to lower interest rates.”