People’s Bank of China (PBoC)
PBoC steps up easing with another rate cut
China’s central bank cuts interest rates for the second time in less than four months, in a sign it is becoming more aggressive in combating economic weakness
Bank of Canada will only lend renminbi as ‘last resort’
The central bank’s financial markets chief says it is up to banks to manage their renminbi liquidity needs, including in ‘stressed circumstances’
Justin Lin on China, economic growth and the international monetary system
Former World Bank chief economist on why a multiple currency system could increase monetary instability, China should be wary of full capital reform and infrastructure investment will boost growth
PBoC report reveals extent of liquidity interventions
Quarterly monetary policy report reveals massive injections of liquidity to support the money supply as outward capital flows continue to accelerate
PBoC takes action against tighter liquidity
Cut in reserve requirements seen as effort to ease liquidity due to lunar new year and capital outflows, but may do little more than offset a growing shortage
Renminbi cracks top-five payment currencies
Share of the renminbi in global payments increases to 2.17% in December, Swift data shows, pushing it above the Canadian and Australian dollars, and into the top five
Swiss gain greater access to renminbi markets in new deal
SNB and PBoC ink deal on RQFII quota for Switzerland and establish renminbi clearing in the country; latest in a string of agreements aimed at renminbi internationalisation
Offshore renminbi clearing banks could face competition from 'superhighway'
As host countries play up significance of new clearing banks, questions emerge over whether they will become obsolete once Chinese ‘payments superhighway' comes into being
PBoC governor questions western central banks' ability to boost inflation
Speaking in Davos, Zhou Xiaochuan says 'monetary policy is not a panacea to reach targets', while Kenneth Rogoff says ECB QE will not be 'big enough'
Central Bank of Argentina uses PBoC swap agreement for external financing
With Argentina suffering a default in July and without access to markets, its central bank is drawing on a swap agreement with the PBoC to bolster its reserves
PBoC to accelerate reform process in 2015
Chinese central bank signals more financial reforms and a faster opening of financial markets in 2015; focus on ‘prudent’ monetary policy but more stimulus a possibility
PBoC names clearing banks in Thailand and Malaysia
Industrial and Commercial Bank of China will clear renminbi in Bangkok and Bank of China in Kuala Lumpur, the central bank announces
PBoC highlights ‘rapid’ growth of electronic payments
Quarterly report on payments in China says electronic payments, particularly mobile payments, grew significantly in Q3
PBoC closes in on liberalisation with deposit insurance plan
Central bank moves closer to deposit rate liberalisation with proposals for deposit insurance fund, aiming to improve ‘discipline’ in banking sector and encourage smaller banks to compete
Bank of Finland paper sees inefficiencies driving China’s internet finance
Boom in internet finance presents stability risks and appears to be the result of inefficiencies in the existing financial system; authors recommend market-based reforms to redress the balance
PBoC action ‘lays foundation’ for liberalisation
Central bank emphasises movement towards interest rate liberalisation, saying last week’s rate cut was designed to combine financial reform and monetary policy
PBoC cut fails to impress but more action on the cards
Economists say first cut in two years likely to have weak effect at best, but PBoC may have to take stronger action going forward as economy worsens
Bundesbank’s Nagel wants Frankfurt clearing house
Executive board member details benefits to German economy from having an RMB clearing bank, and sets out plans to form a clearing house in the future
RBA strikes clearing deal with PBoC
Australian authorities agree clearing arrangements and RQFII quota with Chinese counterparts; announced in wake of G-20 summit and follows similar Canadian deals
PBoC sheds light on opaque liquidity measures
Central bank confirms injection of billions of renminbi via new ‘medium-term lending facility’ as part of efforts to offset weaker foreign exchange inflows
China and Canada sign deal to set up first RMB clearing bank in North America
Countries also agree on $8.2 billion RQFII quota as part of major bilateral trade initiative; PBoC also signs MoU with Bank Negara Malaysia to set up RMB clearing bank in Kuala Lumpur
PBoC names first RMB clearing bank in Middle East
Doha branch of ICBC named following several deals inked between PBoC and Qatar Central Bank yesterday, including swap line and RQFII quota
Central Bank of Argentina borrows $814m through China swap line
Argentina’s central bank has activated is currency swap agreement with China, and will receive the equivalent of $814 million in a move that will boost its currency reserves
Sarb’s Marais hails 'smooth rollout' of onshore renminbi programme
South African Reserve Bank trading government bonds, T-bills and bank bonds; deputy head of reserves hails support from PBoC on operational aspects of trading