PBOC clarifies policy role and responsibilities

The People's Bank of China spelled out its monetary policy role and gave a detailed description of its responsibilities in a fourteen point statement posted on its web site on Tuesday 30 September. The statement specified its role in determining interest rate policy, maintaining the yuan or renminbi exchange rate at a reasonable level and formulating and enforcing monetary policy.

Source: China Daily

China's central bank has clarified its primary role as the country's monetary policy authority

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