PBoC governor says China does not need QE

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PBoC governor Yi Gang

People’s Bank of China governor Yi Gang forcefully restated his view that it should not carry out a quantitative easing programme.  

Yi’s paper was published in the September issue of the Journal of Financial Research, which is owned by the PBoC.

Yi said a quantitative easing programme was something that a central bank should use when it had little choice. But China’s economy had a potential annual GDP growth rate of between 5% and 6%. This allowed it to conduct a conventional monetary policy

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