PBoC
Business & Finance abbreviation · Economics
| Stands for | People's Bank of China |
|---|---|
| Categories | Business & Finance |
PBoC stands for People's Bank of China, an economics abbreviation.
Central bank of China, based in Beijing, which sets monetary policy, manages the renminbi exchange rate and regulates parts of the financial system, operating under the State Council rather than independently. Its tools include reserve requirement ratios and guidance for the loan prime rate.
Example: The PBoC cut banks' reserve requirement ratio by half a percentage point to support lending.
Usage notes
Established in 1948, it became a dedicated central bank in 1983. Each morning it sets a daily midpoint "fixing" for the yuan, which can trade only within 2 percent of it onshore. It also leads development of the digital yuan (e-CNY). Also written PBOC.
Related abbreviations
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- NGDP – Nominal gross domestic product
- NIRP – Negative interest-rate policy
- NTB – Non-tariff barrier
- ODA – Official development assistance
- PCE – Personal consumption expenditures
- PED – Price elasticity of demand
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- PMI – Purchasing Managers' Index
- PPF – Production possibilities frontier
- PPI – Producer price index