PBoC governor sets out challenges of pursuing multiple objectives

Zhou Xioachuan

Zhou Xiaochuan discussed the challenges involved in pursuing multiple objectives with the People's Bank of China's (PBoC) monetary policy today (June 24), in a lecture in Washington, DC.

The PBoC's multi-objective mechanism has "indeed posed some potential challenges", he said. One is how to express the mechanism as a function that can be optimised. "One of the key issues here is how to determine the weights on the different objectives in the objective function," he said.

It achieves this by

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