• Sat
  • Dec 27, 2014
  • Updated: 7:20pm

PBOC

Central bank eyes new agency for forex investment

Central bank eyes new agency for forex investment

The People's Bank of China (PBOC) is working on a plan to establish a new government agency to invest its US$3.5 trillion of foreign exchange reserves abroad more efficiently.

Wednesday, 7 August, 2013, 8:19am

China benchmark money rate quoted at 6.5pc, but comes down fast

 The People’s Bank of China (PBOC) has refrained from engaging in open market operations since June 20. Photo: Reuters

China’s benchmark seven-day repo rate posted an unusually high 6.5000 per cent quote on Thursday morning after the central bank abstained from injecting funds into a market traders say is growing increasingly tight.

29 Aug 2013 - 4:13am

China money rates tumble as central bank lets cash flow in

China’s central bank allowed short-term borrowing costs to spike to close to 30 percent last month. Photo: AP

China’s inter-bank funding costs fell further on Tuesday as the central bank refrained from draining funds via its regular open market operations, and traders predicted rates would soon return to levels seen before the recent cash crunch that roiled global markets.

2 Jul 2013 - 10:42pm

Scalpel in hand, Chinese Premier Li stirs reform hopes

The People’s Bank of China has allowed interest rates to stay high to slow runaway credit growth and to punish banks for reckless practices. Photo: Reuters

Investors getting stung by China’s worst financial market rout in years should find solace in the fact that the government, in particular Premier Li Keqiang, is willing to play hardball to force through much-needed policy change.

26 Jun 2013 - 2:43pm

Scalpel in hand, Chinese Premier Li stirs reform hopes

The People’s Bank of China has allowed interest rates to stay high to slow runaway credit growth and to punish banks for reckless practices. Photo: Reuters

Investors getting stung by China’s worst financial market rout in years should find solace in the fact that the government, in particular Premier Li Keqiang, is willing to play hardball to force through much-needed policy change.

26 Jun 2013 - 2:38pm

PBOC poised to widen trading band of yuan

Yi Gang, of PBOC

Beijing is set to widen the yuan's trading band to make the pricing system for the currency more market-oriented. The move reflects the resolve of policymakers to push ahead with financial reforms despite the shaky economic recovery and rising inflows of capital.

19 Apr 2013 - 5:54am

China's fury at Bank of Japan 'blackmail' makes zero sense

Back into line

According to the story on the front page of Saturday's South China Morning Post a host of mainland economic bigwigs led by former People's Bank of China monetary policy committee member Li Daokui are "livid" at what they see as the BoJ's efforts to devalue the yen.

8 Apr 2013 - 3:17am 4 comments

Yuan strengthens to highest level against US dollar in 19 years

The yuan strengthened 0.02 per cent to close at 6.2107 per US dollar in Shanghai.

The yuan strengthened beyond 6.21 per US dollar for the first time in 19 years yesterday after the People's Bank of China raised the currency's reference rate and as investors reassured by a bailout deal for Cyprus returned to emerging-market assets.

26 Mar 2013 - 4:59am

China expected to keep interest rates unchanged

The People's Bank of China (PBOC). Photo: Bloomberg

Mainland officials are expected to keep interest rates on hold in the first half of the year, a central bank adviser said, easing concerns that Beijing may raise rates after inflation reached a 10-month high last month.

20 Mar 2013 - 4:35am

PBOC 'has scope to widen' yuan band

PBOC 'has scope to widen' yuan band

The People's Bank of China has room to widen the yuan's trading band this year, a reform that could have been done earlier and more quickly, a prominent economist and former adviser to the central bank said.

12 Mar 2013 - 6:44am

China and Britain to sign yuan-pound swap deal

BOE governor Mervyn King. Photo: Bloomberg

BOE governor Mervyn King and his PBOC counterpart, Zhou Xiaochuan, met in Beijing yesterday. Both central banks will "facilitate" talks on the yuan-pound arrangement, the BOE said.

23 Feb 2013 - 6:39am

People's Bank of China sounds alarm over inflationary pressures

Economists fear inflation may bring a rate rise this year.

The mainland's service sector recorded the fastest growth since August last month as the non-manufacturing purchasing managers' index (PMI) hit 56.2, according to the National Bureau of Statistics. A reading above 50 indicates an expansion of business activities.

8 Feb 2013 - 3:25am 1 comment

Zhou will step down as PBOC chief, report says

Zhou Xiaochuan

Mainland central bank governor Zhou Xiaochuan will step down from his position next month, the China Securities Journal reported, without citing anyone.

The article, part of a profile on Saturday of Zhou, may be the first time an official media organisation has reported on the timing of his departure from the People's Bank of China. The newspaper is published by Xinhua.

5 Feb 2013 - 4:37am

Yuan trade to start in Taiwan in weeks

Taiwan's yuan trading will begin as early as the Lunar New Year.

The central bank has appointed Bank of China's Taipei branch to clear yuan transactions in Taiwan, in the latest step to strengthen economic ties between the mainland and the island.

26 Jan 2013 - 4:36am

PBOC does 90 bln yuan reverse repos, drains 20 bln for week

A clerk count RMB bank notes in a bank in Nantong, east China's Jiangsu Province. Photo: Xinhua

China’s central bank will inject 90 billion yuan (HK$110 billion) into money markets through reverse bond repurchase agreements on Saturday, traders said, meaning it will drain a net 20 billion yuan from the market this week.

The People’s Bank of China (PBOC) will make the injection of 90 billion yuan through five-day reverse repos.

5 Jan 2013 - 12:00pm

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