China
Social media: an essential tool for central bank communication
Strategies to secure popularity, comprehensibility and reputation as new media takes centre stage
Economy’s ‘first responders’ now in the line of fire
Forceful but late interventions to combat inflation raise the risk of central bank overreactions
PBoC holds key interest rate unchanged
State council defers some firms’ tax payments and says it will increase support measures
People: new deputy governors in China, Sweden and Argentina
Bank CEO joins PBoC, while former regulator goes to Riksbank
Iran legalises crypto for imports
Trading crypto domestically still illegal, central bank tells citizens
Will the dollar remain the world’s reserve currency?
Bank of Russia sanctions are unlikely to undermine the US dollar’s central role in reserve portfolios. But a relative decline in US economic weight and technological innovation are benefiting other currencies
China and Hong Kong to strengthen capital market ties, senior official says
Hong Kong markets should be able to trade in Chinese government debt futures, says Fang Xinghai
Two rural banks in China’s Liaoning province go under
Regulator says the banks were involved in illegal operations
Chinese authorities arrest 234 suspects linked to Henan banking scandal
Authorities also start repaying more depositors after months-long freeze
PBoC launches new phase of e-yuan pilot
Consumers in some cities can use prototype CBDC for public transport and housing
Chinese authorities announce $44 billion stimulus package
Authorities increase funds to power companies and farmers as country suffers from multiple crises
Geostrategic risks now a major factor – CNB reserves head
Ondrej Strádal supports use of CBR reserves for reparations, is reassessing renminbi allocations and has US recession as a ‘base case’ scenario
PBoC urges big state banks to increase lending
Yi Gang summons bankers as PBoC says economy faces “critical moment’
Book notes: Can’t we just print more money?, by Rupal Patel and Jack Meaning
A genuinely readable but non-neutral introduction to economics
PBoC cuts key lending rates
Move follows unscheduled cut to two other rates after official data showed growing slowdown
Russian banks set to use digital ruble in 2024
Cross-border integration with “friendly countries” planned to bypass Swift
The PBoC, real estate debt and financial stability in China
Central bank policy-makers are restricted in terms of capacity and space by their efforts to manage the nation’s property bubble amid declining growth
China cuts key interest rates as growth weakens
Analysts lower China’s annual GDP growth estimate to around 4%
PBoC vows not to flood economy with liquidity
Chinese central bank warns of rising structural inflation pressures
How central bank mistakes after 2019 led to inflation
Central banks must acknowledge their own mistakes and outline concrete steps to restore the public’s confidence in their ability to ensure price stability, write Graeme Wheeler and Bryce Wilkinson*
The case for restoring the role of monetary aggregates
Tim Congdon argues that a surge in money supply in response to Covid-19 sparked heightened inflation and central banks need to refocus their attention on monetary aggregates
More depositors in Henan and Anhui to have frozen funds repaid
Chinese authorities announce repayments for depositors with savings of up to 250,000 yuan
PBoC vows to provide more support for faltering economy
The central bank has not commented on a reported large-scale bail-out plan for developers
Chinese authorities repay more depositors amid banking scandal
Analysts say the banking crisis in Henan and Anhui could precipitate more rural bank runs