PBoC’s policy communication could improve - IMF paper


The People’s Bank of China’s monetary policy communication has made significant progress but is still below the level of central banks in other major economies, an International Monetary Fund paper finds.

Michael McMahon, Alfred Schipke, and Xiang L analyse the impact of the central bank’s communication channels on the financial markets.

The results show the release of the central bank’s quarterly monetary policy reports tends to reduce the volatility of short-term notes. The central banks’

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