Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

http://www.businessweek.com/news/2012-11-14/aberdeen-s-yueh-says-pboc-will-keep-policies-to-support-economy

Bloomberg News

Aberdeen’s Yueh Says PBOC Will Keep Policies to Support Economy

November 14, 2012

Ee Leen Yueh, a Singapore-based fixed-income manager at Aberdeen Asset Management Plc, comments on People’s Bank of China Governor Zhou Xiaochuan’s exit from the Communist Party’s central committee.

“It’s not news that he’ll retire next year. The precedent I’ve observed with major central banks is when new leaders come on board they tend to bring in new ways of decision-making.

‘‘I don’t expect major changes to PBOC’s policy stance to support monetary and economic stability for the first six months or so, especially at this point in time when macro conditions are not that stable externally or internally.

‘‘During his tenure, Zhou Xiaochuan brought about a fair bit of changes and pushed through a more technocrat style of decision-making.

‘‘However, in terms of the structure in decision-making, the power still very much lies with the State Council given how important monetary policy is and how much that’s tied to central policy in China. I don’t foresee any changes to that centralized structure even with a new leader on board.”

To contact the reporter on this story: Liau Y-Sing in Kuala Lumpur at yliau@bloomberg.net

To contact the editor responsible for this story: James Regan at jregan19@bloomberg.net


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus