China
Economists divided on impact of yuan internationalisation efforts
Experts offer mixed views on measures including renminbi bonds, repos and HKMA facilities
PBoC’s Pan calls for ‘meaningful’ IMF quota adjustments
Governor says global economy needs more co-operation amid heightened uncertainty
The SDR as an alternative to the dollar
The weaponisation of the dollar by US authorities represents an opportunity to reconfigure usage of the SDR, argues Warren Coats
Singapore and Hong Kong increase FX trades – BIS survey
Singapore strengthens position as third largest hub, amid greater use of yuan and HKD
Credible Fed key to dollar’s role in Asia – Amro’s Dong He
Organisation’s chief economist says Asia’s central banks not seeking to disrupt currency’s position in region
China reaffirms ‘moderately loose’ monetary policy path
PBoC flags risks from global fragmentation, as concerns remain about growth and price levels at home
Trump ally nominated as IMF first deputy managing director
Dan Katz has ties to US Treasury secretary Scott Bessent and former BoE governor Mervyn King
China leaves benchmark lending rates unchanged
One- and five-year LPRs held steady as PBoC conducts 14-day reverse repo operations before holiday
China holds and Hong Kong cuts after Fed eases
PBoC leaves seven-day repo rate unchanged as HKMA eases policy to maintain dollar peg
China’s cross-border clearing system expands to 189 countries
PBoC deputy governor Lu Lei says Cips processed $12.7 trillion of payments in H1
Political turmoil rattles Turkish lira carry trade
Echoes of March crackdown that sparked market rout leave traders on alert
China and Indonesia expand cross-border settlement links
Central banks also announce QR-based pilot for payments in local currencies
China and eurozone renew €45 billion liquidity line
ECB says three-year swap deal will protect against disruptions in renminbi market
The investors who aren’t fretting over Trump’s stat sulk
Some see dismissal of statistics agency chief as an assault on US institutional integrity; for others it offers a chance to throw off outdated methods
Central banks purchasing less gold, says WGC
July figures show a slowdown in net purchases of the precious metal
Digital yen is not a given, says BoJ official
Japan’s central bank is focused on studying CBDCs but does not feel pressure to issue one
Hong Kong allows collateral reuse in offshore yuan bond repos
HKMA says changes will increase offshore participation in mainland China bond market
Book notes: King dollar, by Paul Blustein
A well-researched overview of the position of the US currency, providing an optimistic view on the future of ‘king dollar’.
China to discuss stablecoins at cabinet level – report
Experts say allowing stablecoin issuance in mainland China unlikely to speed up yuan internationalisation
China keeps benchmark lending rates unchanged for third month
Economists predicted hold as PBoC turns to other means for credit growth
Thailand and China renew bilateral currency swap agreement
Central banks agree to exchange up to 70 billion Chinese yuan over five-year period
Climate risks still on the fringe of monetary policy in Asia
Notwithstanding efforts by the PBoC and BoJ, there is still a need to observe persistent and measurable impacts on inflation and output before climate change truly influences interest rate policy, argues Sayuri Shirai
China to continue consumption push with loan interest subsidies
PBoC says plan aligns with government policy to increase consumer spending
Bailey, the IMF and the fundamental asymmetry problem
The IMF must address sovereign asymmetry and transform surveillance into a tool for mutual accountability, argues Biagio Bossone