China
HKMA’s renminbi repo plans boost hopes for onshore access
Market participants optimistic that new provisions for offshore repos of onshore bonds are first step towards mainland access
PBoC to issue record amount of bills in Hong Kong
Central bank to auction 60 billion yuan of bills in territory amid weakening renminbi
PBoC provides further financial support for tech firms
Central bank follows up on previous policy and allocates $13.6 billion through lending facility
Higher tariffs would hurt US allies as well as its foes – research
However, research says country would be largely shielded from impact of geopolitical fragmentation
Japan and Philippines renew swap agreement
China also renews 15 billion yuan currency swap line with Nigeria
PBoC vows to cut reserve requirements and interest rates
Officials pledge to keep monetary policy “moderately loose” and support capital markets
China holds benchmark lending rates
One- and five-year loan prime rates unchanged after authorities pledge to loosen policy next year
China shifts to ‘moderately loose’ monetary policy stance
Officials also vow to pursue “more proactive” fiscal stance next year
China’s inflation drops to five-month low, despite stimulus
Some analysts expect PBoC to deliver further cuts in rates and RRRs by end of 2025
Pan: PBoC will continue ‘supportive’ policy next year
Central bank also expands M1 definition as governor Pan Gongsheng signals continued stimulus
Cross-currency letters of credit gaining popularity in Asia
Divergent central bank policies see CNH LCs increasingly used to cover USD invoices
Central banks to maintain independence despite threats – panel
Top central bankers discuss Trump, AI and why they plan to ignore IMF on rate cuts
Media narratives drive capital flows into China – NBER paper
Sentiment in news articles impacts investment decisions, regardless of country’s economic fundamentals
Bofit study projects continued slowdown in China
Group’s latest forecast says economy needs to be rebalanced in favour of consumption
PBoC and HKMA to link up instant payment systems
Trial in 2025 will allow residents to make cross-border small-value transactions
PBoC launches new reverse repo operations
Injections via new liquidity tool could help offset maturing central bank loans to banks in fourth quarter
Central bankers reflect on wins and challenges of mBridge
Multi-CBDC project’s transaction value has grown, but regulatory and operational issues remain
HKMA sets up company to run bond settlement system
Business will run the Central Moneymarkets Unit under new governance structure
PBoC cuts loan prime rates
Reductions in benchmark lending rates follow recent stimulus measures
PBoC launches special lending facility for share buybacks
Governor says central bank might also make further cuts to reserve requirement ratio
PBoC launches swap facility in bid to boost stock market
Financial institutions will be able to swap eligible assets with sovereign bonds and central bank bills