Abandon theory, Sheng urges central bankers


Andrew Sheng, the chief adviser to the China Banking Regulatory Commission, has attacked central bankers' reliance on rules and theory, calling instead for them to recognise their role in making judgements based on their own discretion.

Sheng, who between October 1993 and September 1998 was the deputy chief executive responsible for reserves management and external affairs at the Hong Kong Monetary Authority, told Central Banking at the Global Islamic Finance Forum in Kuala Lumpur last Monday th

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