China’s central bank has stepped in to temper the rapid rise of the yuan, announcing that it will scrap foreign exchange risk reserve requirements for certain forward contracts, a move seen as encouraging dollar buying and cooling the currency’s recent surge. The decision follows a sharp rally in the yuan, which climbed to a near…
(Bloomberg) — The People’s Bank of China is boosting the supply of money available to banks to ensure they can meet the surge in demand for cash during the Lunar New Year holidays. The central bank injected a total of 600 billion yuan ($86.4 billion) via a 14-day repurchase agreements late last week, ending a…
China’s central bank will support Hong Kong’s monetary authority to double the amount of yuan liquidity available to local banks, helping them increase yuan lending and enhancing the city’s role as an international offshore centre for the mainland currency. People’s Bank of China (PBOC) deputy governor Zou Lan said at the Asian Financial Forum (AFF)…
The People’s Bank of China reiterated its pledge for a stable yuan while emphasising foreign exchange market resilience. (Wikipedia pic) BEIJING: The yuan slipped against the US dollar today after China’s central bank sent a strong signal through its midpoint fixing, cautioning against a rapid appreciation of the currency which hovered just shy of the…
Oct 27 (Reuters) – What matters in U.S. and global markets today By Mike Dolan, opens new tab, Editor-At-Large, Finance and Markets Sign up here. Trade and inflation relief are driving world stock markets sharply higher on Monday, as we begin a packed week of big central bank meetings and heavyweight tech earnings. I’ll get…
China is in talks with Japan and South Korea – both US allies – about a possible trilateral currency swap to bolster the region’s financial safety net and deepen economic cooperation amid US President Donald Trump’s trade war, according to a source familiar with the issue. Pan Gongsheng, governor of the People’s Bank of China…
This undated photo captures a worker checking the operation of a carbon fiber production line at a factory in Lianyungang, Jiangsu province. (GENG YUHE / FOR CHINA DAILY) BEIJING – China has stepped up credit support for technology companies this year, with half of the sector’s small and medium-sized enterprises (SMEs) receiving loans by the…