PBoC governor sets out challenges of pursuing multiple objectives
Zhou Xiaochuan discusses how the PBoC expresses its multiple objectives as a function that can be optimised
Zhou Xiaochuan discussed the challenges involved in pursuing multiple objectives with the People's Bank of China's (PBoC) monetary policy today (June 24), in a lecture in Washington, DC.
The PBoC's multi-objective mechanism has "indeed posed some potential challenges", he said. One is how to express the mechanism as a function that can be optimised. "One of the key issues here is how to determine the weights on the different objectives in the objective function," he said.
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