China
PBoC cuts key policy rate
Chinese central bank ramps up support as new data suggests recovery is slowing
PBoC cuts short-term interest rate to support economy
Analysts believe central bank may ease policy further as Chinese economy continues to struggle
Former PBoC deputy governor expelled from Communist party
Anti-corruption body accuses fintech and pyaments overseer Fan Yifei of accepting large bribes
People: April to June 2023
A round-up of central bankers in the news and on the move during the past three months
Saudi Arabia in talks to join Brics bank
Gulf state would join as Shanghai-based lender increases non-dollar operations
Wuhan’s finance regulator asks hundreds of firms to repay debts
Call for repayment underscores debt troubles in Chinese regional governments amid wider slowdown
PBoC holds key lending rates for ninth straight month
Central bank unlikely to cut rates this year amid yuan weakness, analysts say
China’s National Financial Regulatory Administration officially opens
Veteran banker and former provincial governor Li Yunze will lead new regulator
PBoC asks banks to lower maximum deposit rates
Recent data suggest consumption demand remains weak despite lifting of Covid-19 restrictions
China appoints Li Yunze to head new financial regulator
Li is set to supervise most of China’s financial industry
China and Hong Kong set to launch Swap Connect
New trading link will make it easier for foreign investors to hedge interest rate risks
PBoC and MAS join forces to promote sustainable finance
New task force will work to align green taxonomies in China and Singapore
MAS did not tell banks to ‘keep quiet’ about China flows, group says
Private banking group says sources of inflows into Singapore remain diversified
PBoC has ‘by and large’ ended FX intervention, says governor
But Yi Gang declines to give a timeline for full renminbi convertibility
Global economy will be ‘anaemic’ – IMF
Inflation falling, but central banks will only reach targets over 2024 and 2025
China and Brazil set up infrastructure for renminbi clearing
Move comes as renminbi overtakes euro as Brazil’s second largest reserve currency
PBoC has lent banks $44 billion for ‘green projects’
Facility helps Chinese and foreign lenders to fund carbon emissions reduction, says governor
PBoC swap lines now key international bailout tool
Researchers say PBoC extended support worth billions of dollars to Belt and Road countries
PBoC to cut reserve requirement ratio
Top officials have previously called for use of the policy tool to boost economy
China to set up new party-led financial supervisors
New committees to be established by end of 2023 as part of wider supervisory change
PBoC leadership faces multiple challenges
Yi Gang’s staying on as governor will only ease some of the pressures, writes Hui Feng
Yi Gang stays on as China’s central bank governor
Beijing’s surprise decision sends stabilising signal for the economy, analysts say
China to overhaul financial regulatory system
Proposed changes reduce the PBoC’s role in financial oversight
Dallas Fed warns of global housing ‘slide’
US and German markets are out of touch with fundamentals, authors say