中国外汇网 -真人斗地主

author:  zhang yu , wen ruoyu

regardless of whether the central bank acquires treasury bonds in the future, china's monetary policy does not require a shift to quantitative easing. this is because china's central bank can expand its balance sheet through refinancing, allowing it to enhance its ability to manage interbank interest rates. at the same time, it is not necessarily the case that china will resort to monetizing fiscal deficits, given that chinese fiscal policy is under "nominal budget constraint."