22 September 2025 | 9:44PM HKT Economics Research China: PBOC Affirms Data-Based Approach to Monetary Policy Bottom line: PBOC Governor Pan Gongsheng signaled a data-dependent approach despite the Fed's September rate cut, during a joint press conference with major financial regulators. While the line-up of speakers sparked speculation of imminent easing similar to last September, Governor Pan clarified that short-term policy adjustments were not on the agenda of this meeting. His emphasis on balancing fina ...