Comment: More autonomy for the PBOC?

The IMF board is plainly split on what attitude to adopt towards China's exchange rate policy but has come out usefully supporting moves to give the People's bank of China more discretion in setting interest rates.


On the exchange rate issue, the diplomatically-worded summary of the executive board's discussion noted that the build-up of reserves had complicated monetary policy. This is the point that Alan Greenspan among others often makes on China - that they cannot go

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