In this context, the ability to conduct macroeconomic management is critical for ensuring sound, rapid and sustainable growth, and the effectiveness of monetary policy has also taken on greater importance. At the current stage of development, China needs to employ monetary policy to accommodate four broad objectives, i.e., price stability, growth, full employment and balanced BOP account.
BIS central bankers’ speeches  5  significantly reduce, together with the resolution framework, the largest banks’ too-big-to-fail status. 6  BIS central bankers’ speeches