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Zhou's PBOC past shows multiple policy moves

Central bank governor has a track record of consecutive steps and so his latest rate cut is unlikely to be a one-off

Published Tue, Nov 25, 2014 · 09:50 PM

Beijing

IN his 12 years as People's Bank of China (PBOC) governor, Zhou Xiaochuan has never stopped at a single shift to benchmark interest rates once prompted into action.

Mr Zhou, who took office in 2002 when Alan Greenspan was still chairman of the Federal Reserve, has overseen two tightening and two easing cycles for a total of 22 moves to the one-year lending rate and 20 to the one-year deposit rate. Simple maths suggests his latest cut is unlikely to be a one-off.

By joining Mario Draghi and Haruhiko Kuroda in the global stimulus camp, Mr Zhou signalled deeper concern over China's outlook an…

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