PBOC chief calls for greater use of fiscal policy

China central bank chief Zhou Xiaochuan on Sunday called for greater use of fiscal policy to grapple with domestic growth and structural problems.  Monetary policy, he said, could be left to handle reflation, prevent an outbreak of financial risks and counter the spillover ­effects of an interest rate upcycle across the Pacific, the South China Morning Post reports.  At a panel session at the Boao Forum for Asia, Zhou was reluctant to promote more liquidity support and appeared in favor of forcing painful restructuring.  “After so much quantitative easing in monetary policy, we may have reached an end of this period,” he said. After the US Federal Reserve’s three interest rate rises in the past 18 months, the PBOC has changed its tone to a neutral policy with a tightening bias.