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New Monetary Policy Tools

In: Reforging the Central Bank The Top-Level Design of the Chinese Financial System in the New Normal

Author

Listed:
  • Haiqing DENG
  • Xi CHEN

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.

Suggested Citation

  • Haiqing DENG & Xi CHEN, 2016. "New Monetary Policy Tools," World Scientific Book Chapters, in: Reforging the Central Bank The Top-Level Design of the Chinese Financial System in the New Normal, chapter 5, pages 131-142, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789814704809_0005
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    More about this item

    Keywords

    Central Bank; Chinese Financial System; Monetary Policy; Interest Rate Liberalization; RMB; Yuan;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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