China
Former PBoC deputy to head up embattled regulator
Central bank veteran Liu Shiyu replaces Xiao Gang as head of China Securities Regulatory Commission in highly publicised reshuffle
RBA board agrees China has ‘scope to respond’ if outlook worsens
Minutes from February meeting reveal board is wary a ‘sharp slowing’ in economic activity could spill over to other economies in region, though Chinese authorities could respond
China relaxes QFII limits amid calls for capital controls
FX regulator shortens ‘lock-up’ period, during which foreign investors must wait before repatriating funds, from one year to three months
Former BoE officials warn low rates are feeding imbalances
Marian Bell and John Gieve say the Bank of England should start hiking rates soon, as signs of supply-side problems, unsustainable debt, rising house prices and inflation grow more serious
Renminbi direct payments make inroads in Middle East
The Chinese currency ranks first when the UAE and Qatar make direct payments to China and Hong Kong
People: Ireland appoints first female deputy governor; Sri Lanka also names deputy
Irish central bank appoints first female deputy governor; Sri Lanka appoints deputy; change in leadership at Chinese foreign exchange regulator; and more
Analysts see Hong Kong peg under scrutiny
Hong Kong dollar reached lowest level in nearly a decade this week, putting long-standing peg ‘under fresh scrutiny' and prompting fears of possible attack
BIS stats show further retreat in global banking flows
Falling claims on China drive bulk of overall reduction in cross-border claims, but pace of decline slows compared with previous quarter
Monetary policy less effective than structural reform, Davos panellists argue
Structural reform is more effective than monetary or fiscal policy in current conditions, Axel Weber and Raghuram Rajan agree; Weber foresees four Fed rate rises but thinks markets disagree
US, China trends put Hong Kong in potential tough spot, warns IMF report
Housing prices have tripled since 2008 and could face correction as result of slowdown prompted by outside pressures
PBoC imposes reserve requirements on offshore deposits for first time
New measure designed to curb CNH short-selling and shows PBoC determination to stabilise offshore market in wake of recent gyrations, analysts suggest
RBI, BIS gain access to China interbank foreign exchange market
Second batch of official investors receive permission to trade FX spot and derivatives onshore; MAS and BoK also among the seven institutions
PBoC looks to expand lending programme for SMEs
Central bank to 'steadily advance' refinancing scheme as economy expected to slow further; Ma Jun clarifies PBoC's position on exchange rate fluctuations
Room for monetary policy stimulus has ‘narrowed’ in many EMs, World Bank report warns
Little room left to use monetary or fiscal stimulus in event of growth shock in some countries, report says, pointing to role for structural reform
PBoC cut in renminbi fix prompts market volatility
Central bank cuts fix by 0.51%, triggering second equities slump in a week and further divergence in onshore and offshore exchange rates
PBoC injects liquidity following market rout
Central bank intervenes with $20bn reverse repo operation as markets slump, restoring a semblance of calm
Chilean central bank spells out risks to outlook
Central bank expects inflation to return to 3% target by end of 2017 according to latest forecasts; details risks from home and abroad to macroeconomic outlook
Russian and Chinese central banks sign MoU
The governors of the Russian and Chinese central banks sign memorandum of understanding; will now be able to issue bonds in each other’s markets
IMF reforms approved by US Congress
Christine Lagarde and the People’s Bank of China welcome the approval of the US Senate for quota and governance reforms at the IMF, agreed by the board in 2010
Global value chain key to realising growth potentials, says Sri Lanka governor
Mahendran says Sri Lanka has not integrated fully into the international value chain; former World Bank chief economist Lin discusses ‘new’ structural economics
New renminbi index shows ‘relative’ strength of currency
Body run by the PBoC publishes index showing movement of renminbi against 13 other currencies; looks to steer market focus away from solely the dollar rate
PBoC confirms Korea on track to issue first sovereign 'panda bond'
Korean government authorised to raise 3bn yuan in interbank market, China's central bank confirms; Seoul reportedly marketing bond during China roadshow this week
RMB now second most used payments currency between China and Japan
The Chinese currency more than doubles share of payments between China/Hong Kong and Japan in two years, eclipsing US and Hong Kong dollars while yen retains number one spot
PBoC deputy governor says reforms will continue beyond SDR inclusion
Yi Gang welcomes IMF decision on SDR, says China will not ease off on reforms; inclusion was seen as inevitable in recent weeks, but Central Banking poll highlights earlier uncertainty