China
Renminbi revaluation effects on India: RBI paper
Reserve Bank of India study says revaluation of renminbi will impact India’s exports sector
Beijing official renews call to move away from “dollar trap"
Report by think-tank economist claims the international monetary system lacks stability and fairness as a result of dollar dominance
China and HK central banks close to finalising new CNH clearing arrangement
Market participants are close to completing the legal and operational details relating to a new custodian account arrangement that would allow the city's participating banks in offshore renminbi to take credit risk against the People's Bank of China…
IMF’s Lipsky warns of widening global imbalances
IMF first deputy managing director John Lipsky says advanced and emerging economies must rethink growth strategies to prevent global imbalances from widening
BoE on China’s growth path
Bank of England study says China may prefer a slower path of adjustment than deficit countries to rebalance global economy
China attends first Seacen meetings
People's Bank of China governor Zhou Xiaochuan joins in 31st meeting of regional central bank heads in Sri Lanka
China’s financial system, not renminbi, source of imbalances: St Louis Fed paper
St Louis Federal Reserve study says revaluation of renminbi will not address source of trade imbalances and may prove counterproductive
Beijing downplays hot money flows
China’s State Administration of Foreign Exchange says hot money flows are “ant-like” relative to size of economy; analysts say results downplay risks of emerging markets overheating
Uganda’s Kasekende on benefits of African cooperation
Bank of Uganda deputy governor Louis Kasekende says stronger cooperation in African region will enable countries to exploit growth opportunities
Israel’s Fischer calls for international FX rules
Bank of Israel governor Stanley Fischer calls on IMF to draw up set of international rules on foreign exchange intervention
PBoC hikes rates again
People’s Bank of China raises rates for second time in less than two months amid rising food prices; analysts predict further rate hikes this year
BoJ paper on Chinese cross-border capital flows
Bank of Japan study examines the impact of greater economic integration on cross-border flows in China; makes recommendations on policy prescriptions
CIC to open Toronto office, wants more funds: reports
China Investment Corporation selects Toronto as location of first foreign office; CIC senior executive demands more capital from Beijing
PBoC allows Chinese firms to invest renminbi abroad
People’s Bank of China to allow domestic banks to settle investments abroad in renminbi as part of cross-border investment pilot
Portugal succeeds at auction but fails to sway analysts
Portugal sells $1.6 billion worth of government debt at auction, but commentators remain wary of fundamentals
PBoC’s Yi promotes Chinese-EU financial co-operation
People’s Bank of China deputy governor Yi Gang promotes benefits of financial co-operation between China and the European Union
Renminbi liberalisation, price stability priorities: PBoC
People’s Bank of China says currency internationalisation, price stability top priorities for 2011, following annual meeting
IMF paper investigates financial integration in Asia
Fund study finds equity and debt markets within Asian countries remain considerably more integrated with countries outside the region than within
S&P lifts China rating one notch
Ratings agency Standard & Poor’s upgrades Chinese long-term rating; move follows similar step by Moody’s in November, places Chinese debt three marks short of prime rating
Chinese house prices overvalued in some places: HKMA research
Hong Kong Monetary Authority study shows prices outstrip fundamentals in some market segments; points to importance of early warning mechanism
Nigeria stands by Sanusi’s government barbs
Central Bank of Nigeria maintains governor Sanusi Lamido Sanusi’s assertion that legislative branch absorbs quarter of all government overheads; comments spark anger from politicians
ECB's Constâncio heralds dawn of Seoul consensus
European Central Bank’s Vítor Constâncio says state intervention during banking crisis marked end of Washington consensus; vice president heralds dawn of Seoul consensus
Chinese sovereign debt to be issued using HKMA platform
Hong Kong Monetary Authority and China’s finance ministry reach agreement to allow issuance of renminbi bonds using central bank tendering platform