Regulatory tightening has caused decline of money growth, PBoC official says
PBoC official says regulatory policy and monetary policy go hand in hand
A flurry of regulatory tightening policies announced recently has led to the decrease of money multipliers and money supply M2, according to Xu Zhong, head of the research bureau of the People’s Bank of China (PBoC).
Speaking at a forum today (June 21), Xu said monetary policy is inseparable from the co-ordination between the central bank and financial regulatory policies.
Xu said the aim of the central bank’s monetary policy is to regulate “inside money” by controlling “outside money”
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