China
China hits back at criticism of yuan policy
PBoC denies devaluation claims, says other nations are responsible for their declining competitiveness
China unveils targeted rate cut and mortgage subsidies
PBoC eases policy for infrastructure lenders and ups support for tech innovation
Stablecoins issuers’ debt wish not enough to meet US needs – study
SF Fed authors say demand for Treasuries will be much smaller than government’s requirements
ECB should become global lender of last resort – report
Academics put forward policy recommendations to further internationalise euro
US firms are actively divesting from China – Fed note
Businesses have been shrinking Chinese holdings since 2020, research suggests
Mamerto Tangonan on the Philippines’ glocal digital ecosystem
Deputy governor shares insights on the nexus of wCBDC and digital sovereign bonds, multilateral payments governance and 'smart' global trade
Book notes: The unanchored central banker, by Manoj Pradhan and Charles Goodhart
A book sparkling with provocative opinions that challenges readers to rethink central banking amid evolving macro trends
Indonesia holds and enacts new measures to protect rupiah value
Damayanti’s first rate decision as governor comes as BI and HKMA advance payments co-operation
Washington is guarding against the wrong dollar threat
Brics nations did not launch a common currency in New Delhi. The payment networks they are building may matter more
China’s machinery and transport exports are hurting EU – ECB paper
Similarity between EU and Chinese goods exports has increased since 2019, research finds
US rates surge sparks new wave of FX net investment hedging
Corporates pile into currency hedges to protect value of foreign assets and capture positive carry
Pacific series: Climate is top issue for Fiji’s governor Ariff Ali
Head of central bank speaks about climate, inclusion, modernisation and vulnerability ahead of his likely retirement next year, following 30 years at institution
Rates cannot blunt trade coercion, Krugman tells ECB conference
Nobel laureate says EU’s fix for external shocks lies in industrial, not monetary, policy
HKMA and PBoC explore ‘enhancements’ to swap line
New five-year plan cements city’s lead role in currency’s internationalisation efforts
Taiwan holds, with inflation expected to fall next year
Central bank says growth exceeded expectations as AI-driven demand continues
Lagarde and Nagel make renewed calls for European unity
ECB and Bundesbank presidents say continent risks losing ground without further markets integration
Uzbekistan and Hong Kong formalise gold trade co-operation
Uzbek central bank stresses need to diversify country’s precious metals sector
Zombie firms in Asian EMEs cause disinflation in AEs – study
Spillover is transmitted to advanced economies via trade channels, BIS report says
China ups gold reserves by largest amount in nearly three years
Monthly increase is biggest since 2023 as PBoC’s holdings hit 76.7m troy ounces
Dollar’s decline has been overstated, says NY Fed study
Fall in greenback’s share of FX reserves driven by concentrated drop among small number of states
Energy shock causing limited economic harm – study
Belgian central bank blog warns current buffers may fail to keep global economy afloat if Iran war continues