PBOC Deputy Research Head: China has room for more monetary stimulus

China still has room for conventional monetary policy expansion, but that room should not be squandered, People's Bank of China's Deputy Research Head said on Friday. 

The central bank on Nov. 5 cut the interest rate on its one-year medium-term lending facility (MLF) by 5 basis points to 3.25% from 3.30%, the first rate cut since early 2016. 

There is consensus in the market that a five-basis-point cut won’t be enough to buttress the economy and the central bank will deliver deeper cuts next year.