People’s Bank of China (PBoC)
IMF charts path towards PBoC policy rate
Staff report encourages the People’s Bank of China to stabilise borrowing costs in the interbank market as an ‘interim step’ towards establishing a policy rate
SNB strikes deal to invest in Chinese bond market
Thomas Jordan and Zhou Xiaochuan establish new swap line in deal, which also permits the SNB to invest up to $2.4 billion in renminbi-denominated assets
Chinese banks freed to set own RMB-dollar exchange rate
Chinese authorities hand banks freedom to set their own dollar exchange rates; central bank also widens renminbi trading band
France and Luxembourg join race to become Europe's renminbi hub
France and Luxembourg next in line for clearing banks after striking deals with PBoC over the weekend; French institutional investors also granted permission to invest in China
PBoC approves direct trading between renminbi and sterling
The pound will become only the fifth currency that can be directly exchanged with the yuan; People’s Bank of China names China Construction Bank as renminbi clearing bank in London
MAS to offer overnight renminbi liquidity
Monetary Authority of Singapore says it will launch an overnight liquidity facility for Chinese currency in July; latest step in growth of offshore market
PBoC aims to galvanise lending by cutting reserve ratio for small banks
People’s Bank of China insists its monetary policy stance ‘has not changed’ as it cuts reserve requirements for smaller banks
PBoC launches $2 billion Africa investment fund
The People’s Bank of China will provide $200 million each year for a decade to finance development projects in Africa, as governor Zhou Xiaochuan criticises past investment deals
PBoC favours London as offshore RMB hub, says leading Chinese banker
The Chinese government and central bank 'think very highly' of London, says top Chinese banker who predicts the City will play a key role in renminbi internationalisation
FX lending in China tops $1 trillion, new BIS figures show
BIS's Robert McCauley estimates FX loans to China hit $1 trillion last year, though the recent renminbi depreciation may now cause lenders to think twice
China should adopt new intermediate target for monetary policy, say IMF economists
Economists at the IMF analyse demand for money in China and conclude the PBoC would be better off targeting interest rates in the economy rather than monetary aggregates
People's Bank of China hires Ma Jun as chief economist
High profile China economist makes switch to central bank to participate in ‘aggressive' economic reforms to ‘shape the future' of China's economy
Germany pips UK to renminbi clearing deal
Deutsche Bundesbank signs MoU with People’s Bank of China three days before the Bank of England; agreements pave way for first two clearing banks outside Asia
BoE and PBoC to ink deal on London RMB clearing bank
Central banks will sign memorandum of understanding next week that will pave way for London to establish the first offshore renminbi clearing bank outside Asia
PBoC doubles reminbi trading band
The People's Bank of China announced this weekend it will double the renminbi's trading band to let it fluctuate 2% either side of the bank's daily reference rate
World should brace for impact of rising Chinese exports, report warns
Array of ‘major problems’ afflicting the Chinese economy is likely to require renminbi devaluation, with knock-on effects for the rest of the world, research warns
Markets see PBoC hand in RMB depreciation
The sharp fall in the RMB at the end of February is thought to have been a deliberate action by China’s central bank to engineer the development of a two-way market in the currency
Former HKMA chief Yam calls on PBoC to shift to policy rate
Founding chief executive of the Hong Kong Monetary Authority publishes a paper calling for interest rate and money base liberalisation on the mainland
PBoC commits to more market reform
The People’s Bank of China reiterates the importance of handing markets a ‘decisive role’ in resource allocation in the quest for sustainable economic growth; looks forward to 2014
PBoC delivers on cash injection promises
People’s Bank of China uses standing lending facility and reverse repos to inject in excess of $37 billion into interbank market; releases statement to prepare market participants ahead of time
ECB bulletin examines 'virtuous circle' in Chinese reforms
Research article published by the European Central Bank says there could be a ‘virtuous circle’ between reforms aimed at rebalancing China’s growth and those aimed at promoting the renminbi
Central bank of the year: The People's Bank of China
The PBoC has anchored market-based reform in China by curbing excesses in the financial system while pressing ahead with interest rate and capital account reform at a time of major political change
The winners of the inaugural Central Banking awards
Paul Volcker, Mario Draghi, People's Bank of China, Central Bank of Colombia, Sveriges Riksbank, Bank of Spain, BlackRock, Northern Trust, VocaLink and OpenLink win inaugural Central Banking awards