Topic
News about policymaking in the world’s major central banks with a focus on the People’s Bank of China, the Federal Reserve, the European Central Bank, the Bank of England, the Bank of Japan and the Reserve Bank of Australia.
March PMI reveals country’s manufacturing activity expanded at the fastest pace in over a year, as more industries show increased confidence.
De facto central bank aims for first-mover advantage through blockchain technology, providing welcome lift to Hong Kong’s image as global financial centre
- Central government indicates it is ready to step in with a spending boost
- The PBOC has room to lower borrowing costs even though that would add downward pressure on the yuan, analysts say
China has begun to test paying some state employees through its digital currency, but the trial is not making much impact in the e-CNY’s adoption as most quickly and automatically switch their salaries to cash.
State media article on Wednesday says it is ‘certain’ that China’s central bank will participate in treasury bond trading amid better coordination with the finance ministry.
More than 46 per cent of urban residents polled by People’s Bank of China say job market is ‘uncertain’, while 62 per cent aim to save more, in continued challenge for policymakers counting on domestic consumption to propel the economy.
Hong Kong’s Exchange Fund, the war chest used to defend the local currency, continued its comeback in the first quarter, posting a return of HK$54.3 billion (US$7 billion) as rising overseas stock markets offset losses in domestic equities.
Analysts say China’s central bank, with an eye on the yuan’s stability, could let it weaken gradually, but such a move ‘could backfire to some degree’.
The outages came two days after Singapore’s financial regulator announced an end to the six-month ban on non-essential activities it had imposed on the country’s biggest bank.
HKMA reiterated its warning for Hong Kong’s borrowers to “carefully assess” their financial power in considering buying property or taking on mortgages, as high interest rates “may last some time.”
Gold purchases in China rose by 5.9 per cent in the first quarter compared with the same period in 2023, as consumers seek security in ‘the only safe asset’, analysts said.
The yen has been steadily sliding for more than three years and has lost more than one-third of its value since the start of 2021.
Blockchain made up about 15 per cent of the talks at Money20/20 Asia this year, just slightly below the proportion of talks on AI, as interest remains high in Asia.
China’s yuan has lost more value against the US dollar as interest rate cuts have yet to materialise, leading exporters to find whatever alternative assets they can until exchange differentials subside.
A total of 42,000 victims have seen their savings and investments in SCB evaporate after the bank was embroiled in a US$12.5 billion fraud.
The central bank said the domestic growth outlook depends on the global pivot to monetary easing and a tech upswing.
The first 18 office units have been priced from HK$7.2 million to HK$22.7 million, or around HK$12,000 to HK$14,000 per square foot, NWD said in a statement on Thursday.
The People’s Bank of China has indicated its approval for trading treasury bonds on the secondary market, signalling more robust action to boost liquidity and fuel growth is no longer out of the question.
Wars in the Middle East and Ukraine, and continuing lower US interest rates have burnished gold’s billing as an investment, but it is the unrelenting Chinese demand that is juicing the rally.
China has continued to sell its holdings in US debt as the likelihood of expected interest rate cuts grows more remote and Beijing looks to widen the diversity of its foreign asset pool.
Asia looks ready to turn a corner in quarterly earnings growth this results season. Here are five key themes to watch as the report cards roll in over the next few weeks.
China’s banks are removing some of their long-term fixed-income products and cutting rates offered to depositors in an effort to shore up profitability, as challenges including a slumping property sector, mounting local government debt, and slow consumption recovery weigh on bank earnings.
Police say 505,000 scam alerts sent to users of Faster Payment System (FPS) between launch of warning system in November and March.
The numbers do not lie, Hong Kong’s financial regulators told the HSBC Global Investment Summit on Tuesday. The city’s market has shown resilience and competence through several years of economic headwinds.
China’s central bank will incentivise the extension of credit for tech-focused companies and equipment renovations – goals named as a top priority by economic policymakers for the coming year.
The rise in gold smuggling is fuelled by a combination of a lack of official supplies and flight-to-safety demands amid a struggling economy.
Second day of talks with Vice-Premier He Lifeng precedes trip to Beijing for meetings with senior officials including premier and central bank head.
