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Jun, 2) Not being a private sector economist I am in the comfortable position that I don't really forecast policy moves. At the World Bank we express our views on policy issues, disclosing what we would do if we were policymakers. If I were in charge of China's macroeconomic policy, I would tend to use the interest rate instrument more. In particular, whenever there is a need to tighten policy, I would rely more on a higher interest rate and less on administrative measures, changes in prudential regulation and credit controls. 1) For next time, if you want to know things such as the meaning of Chibor and Libor, I recommend such googling the terms. But, anyway, these are basically market interest rates on the interbank market. Libor stands for the London Interbank Offered Rate, and the Chibor is the Chinese equivalent.