China

China to be No.2 in payments

China could overtake the eurozone as the world's second biggest payments market early next decade, according to a new report.

PBoC cuts to restore confidence

The People's Bank of China (PBoC) has cut its base lending rate and lowered the ratio of funds that banks must set aside as reserves in an effort to shore up confidence in the country's stock and real estate markets.

Dollar pegs should be reconsidered: King

Mervyn King, the governor of the Bank of England, warned on Wednesday that it would become "increasingly important" for countries to discuss abandoning their dollar pegs in the coming years.

Asia's reserves lower borrowing costs

Asian economies benefit from reduced spreads on their privately-held external debt because of their large holdings of foreign-exchange reserves, according to new research from the International Monetary Fund.

Dollar depreciation reflects value: IMF's Lipsky

The dollar is now the closest to its medium-term equilibrium value it has been in a decade and is set to remain the global reserve currency, said John Lipsky, the first deputy managing director of the International Monetary Fund.

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