People’s Bank of China governor Zhou Xiaochuan has an article published in today’s People’s Daily.


  • Reiterates prudent monetary policy

We are not seeing much impact on AUD from these reported comments out of China. Chinese authorities are trying to transition the economy to more domestic consumption, but are facing a slowdown. This is a theme we have following for a while now, and so far there have been little signs of much improvement, to the extent that the 7.5% GDP growth target for 2013 is in serious doubt of being achieved.