Former PBoC Director of Statistics and Analysis Department Songcheng expects the central bank to take "small steps" toward monetary easing in the near future, Shanghai Securities News reports citing a speech

Former PBoC Director of Statistics and Analysis Department Songcheng expects the central bank to take "small steps" toward monetary easing in the near future, Shanghai Securities News reports citing a speech.

The comments from the former PBoC official suggest a shift towards a more accommodative monetary policy, which could indicate a potential easing of credit conditions in China. If markets perceive this as a precursor to more significant easing, we might see downward pressure on the CNY and a positive impact on risk assets. It’s crucial to monitor how this aligns with current expectations and possible market reactions in both the fixed income and currency markets.