During her speech at the Economic Club of New York on 30th March, Janet Yellen, the Fed Chair took a dovish tone, which has significant impact on the global market expectation. Apart from the United States, major economics including European countries, Japan and China have all introduced loose monetary policies, of which ANBOUND"s chief researcher, Chen Gong is of the view that under the current circumstances, the loose monetary policies introduced by the central banks in the hope of stimulating the respective economies are all but idle efforts It is right to reach a consensus on constraining capital surplus. China"s future monetary policy should have a deep understanding of this area. If loose monetary policies fail to reverse the economic deterioration, then we should find a way out from other policy direction.
