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China chooses surgical strikes as focus of its monetary easing

It aims to cut debt while avoiding credit crunch and growth slump

NEW TACK: The PBOC's strategy includes plans to bolster the market for local govt bonds and the recapitalisation of policy banks.

Hong Kong

AFTER years of emergency policymaking by counterparts in the US, Japan and Europe, it's the People's Bank of China's (PBOC) turn to innovate.

Unlike the US Federal Reserve, Bank of Japan (BOJ) and European Central Bank (ECB) - which unleashed unprecedented quantitative