The PBOC has entered into a series of bilateral currency swap agreements whereby the PBOC and other central banks (over 20 in number) have agreed to exchange the RMB with the respective counterparty currencies. 15.
Should oil prices reach $ per barrel this year, inflation would be 0.7 –1.0 percentage point above baseline in 2022. In brief, inflation would average between 4.4 – 4.7 percent under the $ per barrel scenario.