China
Book notes: Bucking the buck: US financial sanctions and the international backlash against the dollar, by Daniel McDowell
A timely and well-documented book about the weaponisation of the US dollar
BNM’s Rasheed on inflation, growth and currency performance in emerging markets
Bank Negara Malaysia’s governor speaks about balancing inflation and growth, supporting the ringgit, multilateral currency settlement and greening Islamic finance
PBoC to start borrowing government bonds as yields fall
Analysts expect central bank to sell in secondary market to stabilise yields
Half of central banks regularly review monetary framework
Vast majority conduct reviews but many are ad hoc
PBoC and RBI have highest-ever gold holdings, WGC says
PBoC paused gold purchases in May for first time since November 2022
PBoC holds key lending rates
Market-based lending rates remain unchanged as economic data remains mixed
PBoC overhauls monetary policy framework
Central bank aims for clearer policy rate, bigger role for bond trading and use of “structural” tools
PBoC holds key rate for tenth consecutive month
May data shows continued property downturn and improvement in retail sales and industrial production
Argentina extends swap agreement with China
Central Bank of Argentina says it will repay activated $5 billion swap by mid-2026
BdF paper looks at what new global currency would need
Unified debt market would go “some way” to internationalising the euro
Lkhagvasuren Byadran on geopolitics, gold and 100 years of central banking on the steppe
Bank of Mongolia governor Lkhagvasuren Byadran speaks about monetary and financial reform, embracing AI and fintech, and Mongolia’s new SWF
Chinese cities ease home-buying rules as housing slump continues
Analysts say real estate sector unlikely to turn around this year despite recent interventions
Risks facing central banks: action and inaction
Unlike Fed policy in the 1990s, central bank actions this century do not appear overly accommodative, given poor policy decisions elsewhere, writes Andrew Smithers
Getting Chiang Mai right
Asia’s emergency infrastructure is on the right track, but there is still room for improvement
China links CBDC to Hong Kong’s fast payments system
Hong Kong residents can top up wallets via 17 retail banks as PBoC continues to promote use
China holds key rate flat
Move comes two days before PBoC starts selling long-term sovereign bonds
China to start selling ultra-long term sovereign bonds
Authorities will start selling 30-year bonds as first stage of major fiscal stimulus
Asean+3 to launch new financing facility
Thirteen Asian states say fund will deal with exogenous shocks’ effects on balance of payments
BIS’s Zhang Tao on why Asian central banks favour a broader policy mix
The BIS’s Asia chief speaks with Christopher Jeffery and Jimmy Choi about supporting liquidity, financial stability and innovation in the Asia-Pacific region
Former head of PBoC’s digital currency arm under investigation
Probe comes after Beijing launched a three-month anti-graft inspection
Chinese policy-makers warm to PBoC bond trading
PBoC’s trading of government bonds will be different from QE, central bank official says
PBoC withdraws liquidity and holds key rate
Policy-makers refrain from easing despite weak inflation and exports data
PBoC steps up funding support for tech development
Central bank sets up a 500 billion yuan re-lending facility for tech firms
People: January to March 2024
A round-up of central bankers in the news and on the move during the past three months