Ex-PBoC deputy questions policy after Beijing cut

Wu Xiaoling, a former deputy governor at the People's Bank of China, has said the central bank should not loosen monetary policy further after the institution cut rates and relaxed loan conditions last week.

Wu, now a deputy director at the financial and economic affairs committee at the National People's Congress, told China Securities Journal, a government newspaper, over the weekend that the country should rely more on fiscal policy than monetary policy and that rates did not need to be cu