Canadian Monetary Policy and Chinese Monetary Policy Under Covid-19

DOI

10.2991/978-94-6463-142-5_20How to use a DOI?

Keywords

Covid-19; monetary policy; Bank of Canada; People’s Bank of China

Abstract

The comparison between Chinese monetary policy and Canadian monetary policy regarding Covid-19 could intuitively display the socioeconomic differences and similarities between western counties and eastern countries. China and Canada were two typically eastern representative countries and western representative countries socioeconomically and politically. The People’s Bank of China (PBC) was the central bank of the People’s Republic of China which was under the regulation of the State Council. The Bank of Canada (BOC) was the central bank of Canada under the administration of the Governing Council. From 2019 to 2022, the central bank of China conducted structural monetary policy and tools by refinancing, reserve requirement policy and open market operation to mitigate the impact of the pandemic on the Chinese economy. The Bank of Canada applied both conventional and unconventional monetary policy to the Canadian economy by adjusting the target for the overnight interest rate to control the target the inflation rate. For the sake of understanding the response of the monetary policy by the People’s Bank of China and the Bank of Canada, statistics and graphs were employed in this paper to interpret the operation of these monetary policies and monetary instruments. The monetary policy’s reaction of China was more restrained than Canada under the pandemic.

Copyright

© 2023 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Xinyi Zhu
PY  - 2023
DA  - 2023/05/15
TI  - Canadian Monetary Policy and Chinese Monetary Policy Under Covid-19
BT  - Proceedings of the 8th International Conference on Financial Innovation and Economic Development (ICFIED 2023)
PB  - Atlantis Press
SP  - 179
EP  - 185
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-142-5_20
DO  - 10.2991/978-94-6463-142-5_20
ID  - Zhu2023
ER  -