Explaining monetary policy
Subscribe to keep reading.
Sign up to stay briefed on what the Chinese government is doing, thinking, and saying.
Already a subscriber? Log in.
The PBoC’s Q2 monetary policy report dropped on Friday.
The key section was a deep dive on the “countercyclical factor” that the PBoC introduced for the currency in May. While the bank didn’t spell out an exact algorithm, it did provide some transparency (Reuters):
“Under the new regime, each ...