Zhou Xiaochuan, governor of the People’s Bank of China, says constant calls from local governments for easier money supply and looser monetary policy, regardless of general economic conditions, are the root cause of the country’s financial fragility. Photo: Bloomberg

Time to rein in loose monetary policy

Central bank chief Zhou Xiaochuan is right to highlight the perils associated with calls by local governments for loose monetary policy

Topic |   China economy

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Zhou Xiaochuan, governor of the People’s Bank of China, says constant calls from local governments for easier money supply and looser monetary policy, regardless of general economic conditions, are the root cause of the country’s financial fragility. Photo: Bloomberg
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