BIS Working Papers No 641 China’s evolving monetary policy rule: from inflation- accommodating to anti- inflation policy by Eric Girardin, Sandrine Lunven and Guonan Ma Monetary and Economic Department May 2017 JEL classification: E52, E58, O11, O52. Keywords: monetary policy in China, People’s Bank of China, Taylor rule, inflation targeting, discrete-choice model, open-economy model