China to skip U.S. Fed's Jackson Hole meet -sources

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China to skip U.S. Fed's Jackson Hole meet -sources

Post by ToddS on Fri Aug 19, 2011 8:07 pm

China to skip U.S. Fed's Jackson Hole meet -sources

BEIJING | Fri Aug 19, 2011 4:25am EDT

BEIJING Aug 19 (Reuters) - China will skip next week's annual conference of central bankers in Jackson Hole, Wyoming, two sources familiar with the situation told Reuters on Friday.

The conference, organised by the Kansas City Fed, draws prominent economists and central bank officials from around the world, including Ben Bernanke, the chairman of the U.S. Federal Reserve.

China Central Bank Governor Zhou Xiaochuan attended the conference for the first time in 2005, but over the years China has rarely sent senior officials to the event.

The sources did not say why China decided against attending the Aug 27 meeting but noted that the world's No. 2 economy was not present at last year's session, either.

Global investors watch the outcome of the annual conference closely.

At the 2010 session, Fed Chairman Ben Bernanke said U.S. policymakers were prepared to buy more government debt, mortgage securities, homes and stocks if the economy were to worsen significantly or if there was a prolonged drop in prices and wages. (Reporting by Langi Chiang and Koh Gui Qing; Editing by Don Durfee)

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