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Is the unpredictable and opaque PBOC ready for prime time?

In one area, the PBOC has been clear in forward guidance - the exchange rate. With the IMF assessing the yuan's readiness for inclusion into its basket of official reserve currencies later this year, the PBOC has declared there'll be no major swings.

Hong Kong

IN its quarterly report, the People's Bank of China questioned the merits of transparency, saying too much openness could lead to "pressure from various sides". Such a stance and its unscheduled policy moves come as governor Zhou Xiaochuan and Premier Li Keqiang loosen barriers