China
Markets still in thrall to central banks – BIS
But some apparent anomalies may be signs of healthier market function, says Claudio Borio
Trump’s tariffs may have caused inflation – researchers
Estimates indicate tariffs may have already contributed 0.1 percentage points to CPI, authors find
China calls a halt to deleveraging
Banking watchdog says deleveraging campaign has achieved its goals
Chinese premier clashes with central bank over credit expansion
PBoC rejects premier’s warnings over interest rate arbitrage and bill financing
Chinese lending hits all-time high in January
Total social financing reached roughly 240% of China’s GDP at end of month
The role of e-cash in China
The use of e-cash stored on integrated circuit cards notably reduces cash handling fees and increases security. It also offers greater convenience notwithstanding the rise of mobile payments
PBoC issues 20 billion yuan of central bank bills in Hong Kong
Bills could help improve the yuan-denominated bond yield curve amid a lack of liquidity in the Dim Sum bonds market
Renminbi reserves are still relatively small
Renminbi investments still account for a much smaller fraction of global forex reserves than China’s significance in the world economy would merit
Brexit solution that ‘works for all’ must be found – Carney
BoE governor calls Brexit an “acid test” of a “new global order”
Myanmar adds yuan and yen as trade-settlement currencies
Move comes as yuan use rises and dollar use falls, analysts say
Zhou Xiaochuan wins 2019 lifetime achievement award
The former PBoC governor served for a record 15 years, implementing sweeping reforms that have reshaped the Chinese economy
Lifetime achievement: Zhou Xiaochuan
The former People’s Bank of China governor stands out for his high levels of integrity, intellectual rigour and bold reforms that have served the public interest in China and elsewhere
Latest restructuring boosts the PBoC’s regulatory clout
Hui Feng says the restructuring of the PBoC carries “profound implications” for the central bank’s role in policy-making
Non-banks continue rise as banks lose market share
Non-bank financial firms hit a record high, at nearly half of global financial assets, FSB finds; leveraged lending increasingly an area of focus
PBoC handed leading role in macro-prudential policy
Shake-up of PBoC’s governance structure sees central bank gain macro-prudential department
PBoC continues with communications overhaul
Central bank aims to publish Chinese and English communications simultaneously in the future
Ageing population is deflationary – HKMA paper
Deflationary pressures “should not be ignored”, economist says
PBoC denies that new liquidity tool is a ‘form of QE’
Central bank bills swap is essentially quantitative easing, says one analyst
PBoC makes record fund injection into financial system
Central bank pumps 570 billion yuan into system via open-market operations; move follows other measures to increase liquidity amid slowing growth
PBoC’s Yi defends central bank’s easing measures
Cut in reserve requirements calibrated so as not to undermine deleveraging, governor says
Chinese central bank again seeks to boost lending to small businesses
PBoC doubles threshold for loans exempted under reserve-ratio requirements
The PBoC’s efforts to solve the ‘impossible trinity’
Chinese central bank intervenes to manage offshore renminbi rate; uses swaps, rather than selling reserves in latest currency interventions
BoCHK set to secure role for Philippines renminbi clearing
Bilateral settlement gains importance in yuan internationalisation process; race on for Indonesia clearing licence
The ‘great fintech wall of China’?
Deploying fintech wrappers could help to solve part of the People’s Bank of China’s capital control dilemma; trials possible in Greater Bay Area