New Monetary Policy Tools

Haiqing Deng and Xi Chen

Chapter 5 in Reforging the Central Bank:The Top-Level Design of the Chinese Financial System in the New Normal, 2016, pp 131-142 from World Scientific Publishing Co. Pte. Ltd.

Abstract: This chapter focuses on three kinds of new monetary policy tools — targeted monetary policy tools, interest rate corridor and expectations management. Targeted monetary policy tools refer to targeted reserve requirement ratio cuts, targeted re-lending and so on, which have been used by the central bank in 2014. Interest rate corridor monetary policy tools refer to Standing Lending Facility and (SLF) and so on, the basis of interest rate corridor in China. Expectations management refers to the central bank guiding the public expectation by releasing information to achieve monetary policy targets at a low cost.

Keywords: Central Bank; Chinese Financial System; Monetary Policy; Interest Rate Liberalization; RMB; Yuan (search for similar items in EconPapers)
JEL-codes: G21 (search for similar items in EconPapers)
Date: 2016
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