PBoC holding off on more rate cuts until Q4 data is out, official says

The central bank of China will not consider further rate cuts or easing until fourth-quarter economic data has been released and it has had a chance to observe the monetary policy of Japan and the US, Reuters reported, citing a central bank adviser. “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,” said Chen Yulu, who sits on the monetary policy committee of the People’s Bank of China. “It is also important to make decisions taking into account Japanese and US monetary policy,” Chen said.