China
China and Hong Kong to launch derivatives trading link
HKMA chief says Swap Connect scheme will allow global investors to manage interest rate risks from bond investments on the mainland
PBoC chief vows to keep policy accommodative
But economist expects room for China to cut interest rates further to be small
China loans Pakistan central bank $2.3 billion
Ailing country in talks with IMF as foreign exchange shortage crimps fuel purchases
PBoC launches renminbi reserve pool with BIS
Equivalent of $13.5 billion will be pooled by six central banks to withstand market volatility
China keeps key lending rates unchanged despite US rate hike
Chinese inflation remains subdued and there are signs of a marginal improvement in the economy
Understanding informal remittances
Better tracking of remittance flows could give central banks valuable insights to support policy, say Deepali Fernandes, Amil Aneja and Azar Sultanov
Book notes: Two hundred years of muddling through, by Duncan Weldon
Insights into UK economic history offer lessons for today’s policy-makers
Global climate standards ‘badly needed’ but elusive, say central bankers
“I am not sure we are going to get there,” ECB president says
Digital yuan being tested at Chinese high school
“Smart ID card” allows students to make purchases – and parents to track them
Does Switzerland need an SWF?
A sovereign wealth fund could adopt longer-term strategies, invest in less liquid assets and increase exposures to riskier assets such as equities, potentially boosting returns
China cuts key lending rate
Authorities acknowledge “complex and severe environment” as they step up support
Chinese authorities investigate senior PBoC official
Anti-corruption agencies launch probe into sacked head of monetary policy department
QR code payments pave way for borrowing – BIS paper
Chinese merchants that offer QR code payments can more easily access credit from big tech firms
PBoC focusing on grain and energy to stem inflation
Price stability in grain production and energy supply key to growth, says governor
PBoC on hold as Fed signals steeper rate rises
Policy-makers face worsening pandemic, rising inflation and tighter global financial conditions
Mitigating regulatory risks of mobile payments
Third-party payment providers need to give up data to supervisors to prevent fraud
People: Macklem to chair Basel Committee oversight board
China names policy-makers; BoJ reappoints key monetary policy official; Kazakhstan replaces deputy
Chinese draft law sets up financial stability fund
New government committee would oversee financial stability as concerns grow
Lifetime achievement: Stanley Fischer
Fischer has had a profound impact on monetary economics and central banking during his prolific career
Global markets: HSBC
The bank’s long-term commitment to clients and its wide range of expertise shone in 2021 as central banks navigated the aftermath of the Covid-19 shock
Liu He intervention helps calm Chinese markets
Authorities promise easier policy as economy hit by Covid outbreak and Russia-Ukraine war
PBoC to fine Tencent over AML breaches, report says
Nationwide crackdown on money laundering announced in January
Book notes: Shutdown, by Adam Tooze
A useful, wide-ranging overview, showing how health and economic policies are intimately intertwined with geopolitics
Digital money and central banks
Central banks must reflect on the monetary policy, regulatory and financial stability implications from crypto assets, stablecoins and CBDCs to stay relevant in the digital age of money