[unable to retrieve full-text content]A former long-standing governor of China’s central bank has backed reforms to the way inflation is defined and measured to reflect new social and economic realities, a proposal that may lead to a wholesale retooling of modern central banking that has been serving the global growth since the early 1990s.Zhou Xiaochuan, who was the head of People’s Bank of China (PBOC) for over 15 years until 2018, believes the popular practice of targeting inflation, which has been adopted by the United States,…
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