PBOC says China must prevent fiscal deficit monetisation


China must prevent fiscal deficit monetisation and should build a "firewall" between fiscal and central bank funds, the governor of the People's Bank of China was cited as saying.

BEIJING: China must prevent fiscal deficit monetisation and should build a "firewall" between fiscal and central bank funds, the governor of the People's Bank of China was cited as saying by the official Shanghai Securities News on Monday.

Yi Gang, commenting on China's 14th Five-Year Plan, also said the central bank would steadily push forward research and development of digital currency and gradually include key financial activities, institutions, markets and infrastructure in macroprudential management, according to the report. - Reuters

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