PBoC governor questions western central banks' ability to boost inflation

Zhou Xiaochuan, PBoC

Western central banks may struggle to boost inflation, People's Bank of China (PBoC) governor Zhou Xiaochuan said today, during a panel discussion in Davos.

"This time, monetary policy is not a panacea to really reach the [inflation] targets that people expect," Zhou said during the World Economic Forum event, which included Harvard economist Kenneth Rogoff and former Bank of Mexico governor Guillermo Ortiz, among others.

Invoking an argument often made by other prominent central bankers, includ

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