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China Rate Cuts Not Enough to Stabilize Economy: Ex-PBOC Adviser – Bloomberg


Looser monetary policy in China won’t be sufficient to stabilize the economy and a faster increase in government spending is needed, according to a former adviser to the central bank.

“Under the current economic situation, the role the PBOC can play is limited,” said Yu Yongding, a member of the monetary policy committee of the People’s Bank of China in the mid 2000s, adding that he would “emphasize the importance of fiscal policy.”

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Harry Miller is a writer and editor based in Toronto with 14 years of experience in the journalism industry. Before joining Canada News Media as a National Online Journalist, Miller worked as a senior writer and a reporter-editor with the Canadian Press and as a breaking news reporter with the Toronto Star. At Canada News Media he covers national news and the trending stories Canadians are searching for. Miller holds two bachelor's degrees, one in journalism from Ryerson University and another in communications and film studies from Carleton University.

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