FXStreet (Guatemala) - Analysts at Brown Brothers Harriman noted the changes in EM's and China yesterday. Key Quotes: "The PBOC announced a rate cut for its Standing Lending Facility (SLF) for local financial institutions across several maturities. The SLF for overnight maturity was cut to 2.75% from 4.50% and the 7-day maturity to 3.25% from 5.50%. This seems to be more about liquidity and market functioning rather than economic stimulus. It could help, for example, the PBOC control the policy rate by strengthening the upper limit of rates. Seasonality also plays a role, as we approach the end of the year. Either way, the move can only help sentiment in China. 4) IMF's Lagarde announced that the staff has concluded that China meets the requirements to join the Special Drawing Right basket. Not only do they judge the yuan to be "freely usable", but also that China has "addressed all remaining operational issues identified in an initial staff analysis submitted to the Executive Board in July." US and European officials have indicated that provided that China meets the IMF criteria, which the staff says it does, they will not block it." For more information, read our latest forex news.