China
China opens onshore bond market to foreign banks
Hong Kong units of HSBC and Bank of China are first overseas lenders to receive approval, following move PBoC says will increase cross-border use of the yuan
ADB cuts China growth forecast to lowest in generation
Asian Development Bank revises down growth projection for 2015 to 6.8% but says talk of Chinese collapse is overblown
China eases restrictions on overseas borrowing
Move allows companies to raise funds in both local and foreign currency without state permission and could help offset record capital outflows, but analysts say short-term impact is likely to be limited
RBA board holds off judging impact of volatility on trading partners
The board assessed the troubles in China and market volatility to have ‘increased the downside risks’ to the global outlook at its meeting this month, minutes show
Access to interbank FX market could spur central bank demand for China bonds
PBoC says foreign central banks will be allowed to trade derivatives in interbank FX market; move to underpin greater interest in China's interbank bond market, says analyst
PBoC makes reserve requirement ratio more flexible
China's central bank will change method for calculating banks' reserve requirement ratios tomorrow in a move one analyst says could free up $200 billion
Bank of England wary of China risks but UK outlook steady
The MPC’s view is not materially affected by recent volatility in the financial markets as it keeps policy on hold; domestically, an increase in wage growth is offset by higher productivity
China to open up interbank foreign exchange market
Central banks will be granted access to China’s interbank foreign exchange market as part of ongoing reforms, Li Keqiang reveals
PBoC reveals $93.9 billion drop in reserves
People’s Bank of China reveals size of drop last month, driven by intervention in foreign exchange markets after devaluing yuan; reserves sat at $3.56 trillion at end of August
Zhou says markets have stabilised as G20 meetings end
The central bank governor says the renminbi and Chinese stock markets have largely finished correcting; G20 policy-makers pledge to avoid competitive devaluation
PBoC sets daily RMB fix at four-year low
Central bank move comes two days after China premier said currency was at ‘equilibrium'; one analyst expects ‘more depreciation down the road'
China's premier says renminbi at ‘equilibrium’
Li Keqiang plays down the risk of further renminbi depreciation, suggesting it will be ‘kept basically stable' at the prevailing rate in a move that may offer relief to hard-hit emerging market currencies
Jin Liqun aims for ‘strong culture’ at AIIB as he is named president-elect
Asian Infrastructure Investment Bank set to be launched before the end of 2015; head of interim secretariat Jin Liqun selected as ‘president-designate’ at meeting in Tbilisi, Georgia
Lockhart still expects rate hike this year
Atlanta Fed president still expects Fed to start tightening ‘sometime’ this year but market expectations of a September hike have fallen
PBoC steps in with rate cuts
Central bank cuts interest rates and reserve requirements amid deepening crisis, and uses the opportunity to push liberalisation agenda
Renminbi ‘fix' lowered as stock market nosedives
Central bank lowers renminbi midpoint value by most since devaluation two weeks ago; some analysts point to decision to halt FX interventions on Monday
IMF extends current SDR basket by nine months
Fund stresses the extension does not ‘prejudge’ its decision on including the renminbi in the basket; final decision still expected this year
China should ‘rein in’ vulnerabilities, IMF warns
Economy faces challenge in balancing reform and growth, with IMF warning of growing risks in the financial system and need for further rebalancing
FSB offers China advice on tackling shadow banking risks
Peer review team led by BoE’s Jon Cunliffe recommends establishing an inter-agency group to coordinate surveillance, among other measures designed to reduce shadow banking risks
Markets regain confidence after PBoC officials intervene
Yi Gang and Zhang Xiaohui step in to reassure markets, helping to reverse some of the renminbi’s fall; Asian currencies also slide and Bank Indonesia takes action
BoK holds policy following RMB drop
Won bounces back from four-year low as Korean central bank keeps rates on hold following Chinese devaluation
IMF offers PBoC cautious approval as renminbi slide continues
Fund urges China to aim for free float in next few years; PBoC insists there is 'no basis' for prolonged slide in currency as yuan falls for a second day
PBoC opens renminbi up to market forces
Latest move towards liberalisation appears to be aimed at meeting criteria for inclusion in SDR basket, but also provides stimulus to flagging economy
PBoC revamps 100 yuan note
New versions of China’s highest denomination note include improved security features to fight counterfeiting and improve machine-readability