Monetary Policy Department

 

Responsible for setting the intermediate target of monetary policy and coordinating efforts to achieve the target; proposing various options of monetary policy instruments and organizing their implementation; formulating interest rate policy and administrative rules for RMB and foreign currencies and RMB exchange rate policy; proposing and implementing interest rate adjustment plans and exchange rate reform programs; formulating and implementing policy and operational rules for the open market operations; providing secretariat service to the Monetary Policy Committee of the PBC.