China should focus on fighting deflationary pressure, former central bank governor says

Key Points

China’s policymakers need to focus on boosting domestic demand, Yi Gang, former head of the People’s Bank of China, said Friday at the Bund Summit in Shanghai.
Yi said he expected the consumer price index to “converge above zero by the end of the year.”
“Central banks should avoid prolonged deflation even if it is mild, that could affect wage determination,” Haruhiko Kuroda, former head of the Bank of Japan, said.

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