China’s Central Bank Is Working Hard to Stand Still
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PBOC using increasingly complex tools to manage money market
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Market volatility shows effort isn’t always flawless
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While some of the biggest central banks are agonizing over changing direction, the People’s Bank of China is working hard to stay right where it is.
That’s because, as the U.S. Federal Reserve or the European Central Bank are heading into phases of tighter policy, China’s monetary authority is engaged in an increasingly complex effort to preserve the status quo while the world changes around it. According to 60 percent of economists in a Bloomberg survey conducted this month, the PBOC’s broad policy stance will remain “roughly the same” through the end of 2017. It’s how they maintain the hold, though, that matters…
China’s Central Bank Is Working Hard to Stand Still
