Update: Central Bank Chief Promises Not to Unleash Flood of Liquidity

China will not flood its economy with liquidity as many economies around the world ease monetary policy, its central bank chief said Tuesday.

“We are not in a rush to conduct relatively large-scale rate cuts or quantitative easing like some other central banks have done,” People’s Bank of China (PBOC) Governor Yi Gang said (link in Chinese) at a press conference in Beijing.