PBoC governor vows to stay away from QE and negative rates

Yi Gang
Yi Gang, PBoC
Photo: World Economic Forum

China will refrain from unconventional monetary policies such as quantitative easing and negative interest rates, Yi Gang, governor of the People’s Bank of China (PBoC), has said.

He warned that many unconventional policies had been ineffective at stimulating the drivers of long-run growth, and said policy in China should be tailored to local economies’ needs.

The governor reiterated the central bank will continue to lower the funding costs for the real economy, while maintaining prudent

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