Chinese authorities should introduce inflation target – IMF staff
Report by IMF staff sets out ‘key elements’ of transition to more market-based monetary framework
Chinese authorities should introduce an explicit inflation target as they move towards a more market-based monetary framework, staff at the International Monetary Fund said today (August 12).
The People's Bank of China (PBoC) sets monetary policy to "maintain the stability of the value of the currency and thereby promote economic growth". IMF staff call on the authorities to establish a medium-term inflation target, either a point or a range, while handing the PBoC operational independence.
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