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Deputy governor of the PBOC's Guangzhou branch Xu Nuojin and advisor to the financial institution Zhou Qiren urged the country to alter its strategy in order to prevent inflation.
"Neither Xu nor Zhou have authority over national foreign exchange policy, but their views are representative of those held by many top analysts and policymakers in China," Wall Street Journal writers Stefanie Qi and Yajun Zhang remarked.
Currently, the Asian powerhouse buys up foreign exchange notes by issuing yuan notes, but this has the effect of swelling domestic money supply.
The PBOC recently called for greater representation of emerging markets on the International Monetary Fund.
Governor of the bank Zhou Xiaochuan claimed such changes would reflect the growing influence of economies such as China and Brazil.
Posted by Chris Weaver
