January 12, 2022 | Macro
[Report] China’s new monetary policy regime: innovative responses to emerging challenges
China’s monetary policy has entered a new phase. Over the last few months, the People’s Bank of China (PBoC) has deployed an unconventional combination of monetary tools: increased relending, reserve requirement cuts, and reductions in the outstanding amount of medium-term lending facility (MLF) loans, while presiding over a lowering of the loan prime rate (LPR).
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