PBOC’s Zhou – Government should play role when markets fall

People’s Bank of China (PBOC) governor Zhou was on the wires stating over reliance of fiscal and monetary policy is not desirable, but governments should play role when markets fall.

Meanwhile, Bloomberg is reporting that PBOC raised RRR for banks that boosted lending too fast.

Key Quotes

Some countries overly rely on fiscal & monetary policy

Government should play role when markets fail