PBoC’s flip-flop sows confusion over rate cuts

Strategy uncertainty: A man cycles past PBoC. The central bank’s tricky balancing act between unleashing stimulus and defending the yuan will further test an economy stuck in the worst property slump since China began privatising housing in the 1990s. — Bloomberg

BEIJING: At a rare press briefing in September last, China’s central bank chief Pan Gongsheng unveiled a stimulus blitz, sparking optimism for one of the biggest policy shifts in a decade.

But since then, market watchers wanting more support have been left scratching their heads.