Adam Wolfe in Bloomberg News: ‘China’s Central Bank Tries to Catch Markets off Guard with Surprise Easing’

Constrained on all sides, China’s central bank is aiming to squeeze more value out of its policy actions by catching markets unaware with surprise easing aimed at putting a floor under the struggling economy.

“Pan seems willing to take slightly larger steps when shifting policy than his predecessor did,” said Adam Wolfe, emerging markets economist at Absolute Strategy Research. But the PBOC “will remain a cautious institution,” Wolfe said, adding that he doesn’t expect any sharp changes in policy this year.

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