It would also be part of a rebalancing between domestic consumption and exports, which are an important element in the strategy of China, and it would be part of the modernisation of the policy instruments available in the Chinese economy. But we have also always said that this is the responsibility of the Chinese authorities.
BIS Review 2/2002  3  Recent specific suggestions about central bank transparency I would now like to turn to some recent specific recommendations for improved transparency, in some cases with respect to the Federal Reserve System. These include the quantification of the central bank’s objectives, the publication of forecasts, and the earlier release of minutes.