China
PBoC takes ‘one of final steps' toward interest rate liberalisation
China's central bank allows companies and individuals to invest in CDs exempt from deposit rate cap; major move toward interest rate liberalisation, analysts say
Shadow banking risks ebbing in China
China has the world’s third-largest shadow-banking sector, but the risks it poses to the overall financial system are overstated, especially following moves by the State Council
HKMA's Chan praises cross-border funds initiative as liberalisation milestone
China's Securities Regulatory Commission and Hong Kong's Securities and Futures Commission announced Mutual Recognition of Funds initiative on Friday
IMF finds renminbi ‘no longer undervalued'
The Fund declares China's currency fairly valued months ahead of SDR basket review, having previously thought it was out of step with economic fundamentals
China may have financial reforms backwards, economists argue
Interest rate liberalisation should take precedence over capital account opening, observers say at roundtable discussion in Hong Kong ahead of IFF China report release
Deutsche Börse to set up Europe's first multi-asset RMB platform
German exchange group signs joint venture deal with CFFEX and Shanghai Stock Exchange to bring trading venue to Frankfurt
PBoC cuts interest rates for third time since November
Central bank also lifts cap on deposit rates; moves will do little to stimulate growth amid property glut, analysts predict
St. Louis Fed paper considers impact of trade shocks on labour market
Working paper examines effects of trade shocks on labour markets, finding the increase in import competition from China after 2000 actually boosted aggregate US welfare
Smaller China banks opt for internal credit risk modelling
Regulation and a rise in bad loans drive small and medium-sized banks to reassess their approach to credit risk management
PBoC chief economist dismisses talk of QE
Ma Jun addresses rumours central bank is looking to acquire municipal bonds as collateral in an LTRO-like move to lower financial risk and increase liquidity
Prasarn highlights ‘untapped opportunities’ between Thailand and China
Bank of Thailand governor Prasarn Trairatvorakul insists China is still an ‘important engine in support of the growth of the Thai export sector’
PBoC steps up support with reserve ratio cuts
People’s Bank of China cuts the ratio for the second time this year, with observers pointing to pressure on the monetary base from foreign exchange outflows as a motivating factor
IMF: China at risk of ‘disinflationary feedback loop'
Oversupply of real estate pushes down inflation, pressuring real interest rates and straining bloated balance sheets, Fund warns in flagship report
PBoC continues leadership reshuffle
Two assistant governors appointed at the People’s Bank of China; swap lines agreed with Australian and South African counterparts
Nigerian reserves head believes renminbi can ‘complement’ euro and dollar
Lamido Yuguda discusses the benefits of a multipolar system and how the Central Bank of Nigeria is managing its renminbi investments in a new book
US has chance to maintain leadership despite China’s AIIB
London School of Economics’ Danny Quah tells Central Banking the US must not cling dogmatically to its view of the world if it is to remain influential – and sharing power need not be all bad
PBoC moves to spur property demand
Lower down-payments for second homes will 'improve demand' in oversupplied housing market, central bank says, but analysts warn scheme could backfire
China overlooks own foreign investment cap
Hong Kong firm granted $1.2bn QFII quota, above the $1bn cap set in 2009, as world's second-biggest economy takes symbolic step towards opening up capital account
Stevens says RBA has discussed further easing
Australian governor says central bank is trying to manage difficult mix of low inflation and rising asset prices against longer-term backdrop of falling terms of trade
Finnish paper charts evolution of PBoC policy since 1999
Discussion paper asks whether China has shifted toward a ‘price-based policy’ and finds the PBoC has become more responsive to changes in economic conditions in recent years
Gradual rollout for China's payment system
The country’s cross-border interbank payment system will further contribute to the internationalisation of the renminbi
Finnish paper: DSGE model with shadow banks sheds light on China
Bank of Finland discussion paper models Chinese monetary policy transmission using a DSGE model augmented with shadow banking and interest rate controls
Weakest economic data in years puts pressure on PBoC
Chinese rate cuts ‘imminent' as some of the worst figures since the financial crisis indicate economic slowdown is sharper than predicted, analysts say
PBoC appoints new deputies
Guo Qingping and Fan Yifei take up roles as deputy governors at the People’s Bank of China, but one seat on the board is seemingly left open