China Central Bank Governor Calls for Vigilance on Deflation
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China must remain vigilant against the possibility of deflation, central bank Governor Zhou Xiaochuan said at the Boao Forum for Asia, as he signaled further steps to prop up an economy that has slowed “a bit too sharply.”
There is still “room” for monetary policy action, Zhou, 67, said in a speech Sunday on the southern island of Hainan. While monetary policy isn’t unconventional now, China “had experience” with non-conventional measures after the Asian and global financial crises, he said.