A woman walks past the headquarters of the People’s Bank of China in Beijing in 2018. The Chinese central bank’s refusal to embrace the expansionist monetary policy of its peers has left it more options as the country’s recovery from Covid-19 continues. Photo: Reuters A woman walks past the headquarters of the People’s Bank of China in Beijing in 2018. The Chinese central bank’s refusal to embrace the expansionist monetary policy of its peers has left it more options as the country’s recovery from Covid-19 continues. Photo: Reuters
A woman walks past the headquarters of the People’s Bank of China in Beijing in 2018. The Chinese central bank’s refusal to embrace the expansionist monetary policy of its peers has left it more options as the country’s recovery from Covid-19 continues. Photo: Reuters
Neal Kimberley
Opinion

Opinion

Macroscope by Neal Kimberley

Coronavirus recovery: China’s prudent monetary policy shows where smart money is

  • In other major economies, central banks’ response to Covid-19 has been a dramatic loosening of monetary policy, but China’s central bank has been more nuanced
  • The recovery of China’s economy has proceeded without the PBOC going all-in, leaving it more options to use in the future

A woman walks past the headquarters of the People’s Bank of China in Beijing in 2018. The Chinese central bank’s refusal to embrace the expansionist monetary policy of its peers has left it more options as the country’s recovery from Covid-19 continues. Photo: Reuters A woman walks past the headquarters of the People’s Bank of China in Beijing in 2018. The Chinese central bank’s refusal to embrace the expansionist monetary policy of its peers has left it more options as the country’s recovery from Covid-19 continues. Photo: Reuters
A woman walks past the headquarters of the People’s Bank of China in Beijing in 2018. The Chinese central bank’s refusal to embrace the expansionist monetary policy of its peers has left it more options as the country’s recovery from Covid-19 continues. Photo: Reuters
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Neal Kimberley

Neal Kimberley

UK-based Neal Kimberley has been active in the financial markets since 1985. Having worked in sales and trading in the dealing rooms of major banks in London for many years, he moved to ThomsonReuters in 2009 to provide market analysis. He has been contributing to the Post since 2015 and writes about macroeconomics from a market perspective, with a particular emphasis on currencies and interest rates.