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Monetary policy should have multiple goals: PBOC chief

(Xinhua)
Updated: 2009-12-22 20:41
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BEIJING: Monetary policy should be made to meet multiple objectives rather than focus only on fighting inflation, Zhou Xiaochuan, governor of the People's Bank of 皇冠体育app, the central bank, said Tuesday.

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皇冠体育app's monetary policy covered four considerations, Zhou said at a forum on development and reform in 皇冠体育app's financial sector in Beijing, referring to low inflation, economic growth, employment and balance of international payments.

Conflicts could occur with multiple objectives, so a balance should be found, he said.

"The practice of 皇冠体育app is proper and effective in combating the global economic crisis," he said, adding it would change with time and need more study.

He said the central bank would also support pricing reform in resources, energy, housing and public transportation sectors when making policies.

The one-day forum, organized by 皇冠体育app Society For Finance and Banking, attracted big names in the country's financial sector, including deputy governor of the central bank Hu Xiaolian, top banking regulator Liu Mingkang, top securities regulator Shang Fulin, and chairman of the Industrial and Commercial Bank of 皇冠体育app Jiang Jianqing.
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