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: ReutersA 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: ReutersA 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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