01841cas a2200265 a 4500 AALejournalIMF018883 230101c9999 xx r poo 0 0eng d 5.00 USD 9781484385647 1018-5941 BD-DhAAL BD-DhAAL McMahon, Michael. China's Monetary Policy Communication : Frameworks, Impact, and Recommendations / Michael McMahon, Alfred Schipke, Xiang Li. Washington, D.C. : International Monetary Fund, 2018. 1 online resource (32 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Financial markets are eager for any signal of monetary policy from the People's Bank of China (PBC). The importance of effective monetary policy communication will only increase as China continues to liberalize its financial system and open its economy. This paper discusses the country's unique institutional setup and empirically analyzes the impact on financial markets of the PBC's main communication channels, including a novel communication channel. The results suggest that there has been significant progress but that PBC communication is still evolving toward the level of other major economies. The paper recommends medium-term policy reforms and reforms that can be adopted quickly. Mode of access: Internet Li, Xiang. Schipke, Alfred. IMF Working Papers; Working Paper ; No. 2018/244 Full text available on IMF http://elibrary.imf.org/view/journals/001/2018/244/001.2018.issue-244-en.xml IMF e-Library