Old Xi Speech on China’s Monetary Tools Catches Trader Eyes
- PBOC should increase trading of government bonds, Xi remarks
- Morgan Stanley says it doesn’t indicate Beijing will use QE
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A line from a 172-page book citing President Xi Jinping’s comments on the nation’s monetary tools became a hot talking point among stock and bond traders Thursday.
China should enrich its toolbox of monetary policies and the central bank should gradually increase the buying and selling of government bonds in its open-market operations, Xi was cited as saying in a book published this month. The snippet was taken from his speech — which was previously not fully released — during a twice-a-decade financial policy meeting in October.