The headline hit a few minutes ago: PBOC academic says RRR cut won't add liquidity to stock market
It was from a PBOC training school professor writing in Shanghai Securities News
More detail now (via Bloomberg):
- The prof. is Wang Yong, at the PBOC's Zhengzhou training school
- Chinese stock market investors should understand that the Chinese central bank won't cut the reserve requirement ratio solely to add liquidity to stock market
- Says funds released into the system from a RRR cut might not flow to the stock market
- Capital markets can't rely on support policies as a market rescue might be more difficult than ever before
