Chinese policy-makers warm to PBoC bond trading

PBoC’s trading of government bonds will be different from QE, central bank official says


China’s finance ministry said it backs plans for the People’s Bank of China (PBoC) to increase its trading of government bonds through open market operations, in order to “enrich the monetary policy toolbox”.

In an article published by the official People’s Daily on April 23, the finance ministry called for better co-ordination between fiscal and monetary policy, and improvements in the mechanisms for injecting base money and adjusting money supply.

The ministry’s call echoed a remark by Chinese

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