China
Hong Kong recovery expected to slow – IMF
Fund warns of risks including exposures to Chinese real estate and further supply disruption
Markus Brunnermeier on the need for CBDCs
The Princeton academic co-authored a paper for the European Parliament exploring the potential pitfalls of CBDCs. But they are still needed, he says
PBoC keeps key rate on hold
MLF rate stays at 2.85%, as investors turn attention to second rate move next week
IMF warns Chinese economic recovery ‘lacks balance’
Focus on investment has set back progress towards “high-quality” growth, fund says
IMF pares back forecasts as world faces ‘multiple challenges’
Omicron variant, supply disruptions and inflation threaten to hold back recovery, says Gita Gopinath
People’s Bank of China continues rate cuts
Cuts follow weaker growth figures as deputy governor promises stable credit growth
PBoC cuts rates as Xi warns against ‘rapid tightening’
Quarterly GDP growth hits lowest rate in 18 months as Xi calls for international policy co-operation
People: Brazil’s Campos Neto comes down with Covid
Acting governor in Lesotho; Auer to head Eurosystem Innovation Hub; and more
2021: The year in review
The year has seen central banks switch from recovery mode to battling inflation. Central Banking looks back at the stories that made the biggest impact in 2021
Myanmar and China to use renminbi for cross-border trade
Reports indicate that authorities will pilot settling small-scale trade transactions in yuan
PBoC cuts reserve requirements
But easing measure partially offset by withdrawal of other liquidity support
Book notes: Empire of silver, by Jin Xu
A useful introduction to China’s monetary history, focusing on the last 1,000 years, but not the easiest of reads throughout
PBoC hints at tilt to easier policy as growth slows
Third-quarter monetary policy report tweaked phrases, downplaying opposition to easy policy
Chinese governor says CBDC must balance privacy and anti-crime measures
Yi says PBoC will collect “minimum amount of information” as police report first CBDC-related arrests
China sets up $31 billion financing facility for ‘clean coal’
Move comes after PBoC excluded coal projects from eligibility for 'green bonds' finance
UK and China renew bilateral swap line
350 billion yuan swap line extended for a further five years
PBoC launches carbon-reduction monetary policy facility
Facility will offer low-cost loans for private firms investing in green projects
Data protection ‘high on the agenda’, says PBoC governor
The central bank has forced major fintech firms to hand over their customer data
China rolls out loss-absorbency rules for systemic banks
China to follow FSB standard, telling G-Sibs to build buffers worth 18% of risk-weighted assets
Transactional cash usage ebbs and flows in response to Covid-19
The proportion of payments made in cash ranged from 3% to 88%
HKMA says firms must report on national security law suspects
Financial regulators say firms must report on those arrested under anti-dissident law
PBoC steps up efforts to safeguard cash use
Chinese central bank fines railway $78,000 over refusal to accept cash in ticket office
PBoC suffers headaches from growth, energy and Evergrande
Yi Gang mulls property sector risks, as China’s growth hits one-year low
BIS paper finds flaws in green taxonomies
“Taxonomy of taxonomies” proposes tackling weaknesses in categorisation of green assets