BoE and PBoC potential swap line met with optimism

city-renminbi

A potential swap line between the Bank of England (BoE) and the People's Bank of China (PBoC) was met with cautious optimism today, as commentators deemed it a step towards a deeper UK renminbi trading market.

A BoE executive director, Chris Salmon, announced the central bank was "ready in principle to agree a swap line with the PBOC", in a speech at the London Money Market Association yesterday.

Earlier in the day, Swift, a financial information communications company, revealed that in 2012 the

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