China
South Korea and Indonesia set up currency transactions framework
Move is latest regional effort to bolster use of local currencies for settling trades
PBoC starts trading Chinese government bonds
Central bank has bought 100 billion yuan net of bonds in August
Global house prices have ‘almost stabilised’ – BIS
Prices still declining in aggregate, a trend driven mainly by China and the eurozone
HKMA launches new measures to support struggling SMEs
Authority expands banks’ access to company data and sets up taskforce to handle financing applications
PBoC stress-tests financial institutions’ bond holdings
Bank steps up efforts to tame market rally while keeping key medium-term rate unchanged
Campos Neto on inflation targeting, independence and the future of financial intermediation
The Brazilian governor speaks with Christopher Jeffery about tackling inflation, the need for financial autonomy, and redefining the financial landscape with open finance, programmable Pix, deposit tokenisation and sound cross-border payments governance
US and China bolster collaboration on financial stability
PBoC and Treasury strengthen communication channels for managing periods of stress
PBoC delays medium-term lending facility operations
Postponement to later in the month aligns with bank’s plan to diminish MLF’s role as key policy rate
PBoC looks into narrowing interest rate corridor
Central bank elaborates on recent changes to monetary policy framework
US’s indirect reliance on Chinese goods rises – NY Fed research
Study finds country’s largest partners are importing increasing amounts of goods from China
Sovereign debt in default fell by 1% in 2023 – BoC study
Research finds shift in lending away from Paris Club creditors towards China
PBoC stops injecting short-term liquidity
Decision adds to central bank’s recent efforts to tame rally in long-term government bonds
PBoC adviser calls for more expansionary economic policies
Monetary policy committee member advocates stronger measures to alter market expectations
Policy-makers report progress in CBDC exploration
Central banks generally see promise in digital currencies, though one is halting research
Asia’s central bankers bullish over cross-border payments
Policy-makers at Asia Summit also spoke of gradual pick-up in use of local currencies
Malaysia is latest country to seek Brics membership
However, uncertainty remains over whether Saudi Arabia will join emerging economies bloc
Eddie Yue reappointed as head of Hong Kong Monetary Authority
Chief executive says HKMA will promote stability amid “complex” economic and geopolitical environment
PBoC unexpectedly cuts key interest rate
MLF rate’s 20bp reduction is largest decrease since 2020
PBoC cuts suite of key interest rates
Move follows weaker-than-expected Q2 growth and policy meeting by Communist party
IMF warns of slowing disinflation path
Higher interest rates in advanced economies could trigger “harmful spillovers”, chief economist warns
PBoC’s new policy tool may have little impact, analysts say
Adding new open market operations does not mean major change to policy framework, say economists
PBoC holds key rate despite uneven economic recovery
Central bank likely to keep MLF rate unchanged before Fed cuts rates, analysts say
China and Kazakhstan to co-operate on CBDC research
The two Asian central banks set to carry out joint research and training
PBoC to start additional open market operations
Move could increase importance of seven-day reverse repo rate, some analysts say