PBoC independence would help China’s exchange rate goals – IMF paper

pboc building

Operational independence for the People’s Bank of China would help China achieve a smooth adjustment to a floating exchange rate, a researcher says in a paper published by the International Monetary Fund.

In the paper, Sonali Das examines China’s progress towards, and key constraints on, achieving a floating exchange rate regime. Das then recommends four policies to support the transition to greater exchange rate flexibility.

Firstly, Das says, the PBoC should have independence in developing a

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