Academics join PBOC body
Source: Bloomberg News |
March 15, 2012, Thursday
|
Print Edition
Print Edition
CHINA'S State Council has appointed academics Qian Yingyi, Chen Yulu and Song Guoqing to the central bank's monetary policy committee, succeeding a trio who completed two-year terms.
The three men, each from a major Beijing university, replace academics Zhou Qiren, Xia Bin and Li Daokui, according to a statement which was posted on the government's website yesterday.
The new advisers join the People's Bank of China facing an economic slowdown that analysts at Nomura Holdings Inc forecast will prompt reductions in interest rates and banks' reserve requirement ratio.
The central bank Governor Zhou Xiaochuan said this week that the nation has large scope in theory to cut required reserves.
The members of the monetary policy committee meet quarterly to evaluate China's monetary stance and recommend changes.
The State Council, China's Cabinet, decides on policies, including interest rates and the foreign exchange rate. Decisions can come outside of the quarterly meetings.
Academics and presidents of state-owned commercial banks get two-year terms on the committee.
The three men, each from a major Beijing university, replace academics Zhou Qiren, Xia Bin and Li Daokui, according to a statement which was posted on the government's website yesterday.
The new advisers join the People's Bank of China facing an economic slowdown that analysts at Nomura Holdings Inc forecast will prompt reductions in interest rates and banks' reserve requirement ratio.
The central bank Governor Zhou Xiaochuan said this week that the nation has large scope in theory to cut required reserves.
The members of the monetary policy committee meet quarterly to evaluate China's monetary stance and recommend changes.
The State Council, China's Cabinet, decides on policies, including interest rates and the foreign exchange rate. Decisions can come outside of the quarterly meetings.
Academics and presidents of state-owned commercial banks get two-year terms on the committee.
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