All articles tagged with #pboc
China's central bank, PBOC, has committed to preventing the yuan from overshooting its target exchange rate, signaling a cautious approach to currency appreciation amid predictions of further strengthening in 2026, while maintaining exchange rate flexibility and stability to manage economic rebalancing and trade tensions.
The Chinese yuan has surpassed 7 per dollar for the first time since September 2024, driven by expectations of gradual appreciation by China's central bank, a weakening US dollar, and increased foreign investment, with analysts predicting it will remain strong in the near term.
China's central bank kept its benchmark lending rates steady for the seventh consecutive month despite weak economic indicators and a prolonged slump in the property market, as the country faces deflationary pressures and aims to support growth through government bonds and policy measures.
Cryptocurrencies, led by Bitcoin and Ether, experienced a sharp decline amid ongoing selloff concerns, with Bitcoin dropping below $88,000 and traders wary of further declines towards $80,000, amid regulatory warnings and weak inflows into Bitcoin ETFs.
China kept its benchmark lending rates unchanged in September for the fourth consecutive month amid easing trade tensions and signs of domestic economic slowdown, reflecting a cautious monetary policy stance despite recent stock market gains and weak economic data.
China's central bank kept its benchmark lending rates unchanged for the fourth consecutive month despite the U.S. Federal Reserve's rate cut, signaling a cautious approach amid mixed economic signals and recent stock market rally, with expectations of slight easing later in the year to meet growth targets.
People’s Bank of China Governor Pan Gongsheng envisions a future global monetary system with multiple competing currencies, reducing reliance on the US dollar, and promoting the internationalization of the yuan through financial reforms and market opening measures, amidst waning confidence in the dollar and discussions on a multi-polar currency system.
China plans to cut interest rates and the reserve requirement ratio (RRR) next year to stimulate economic growth, according to Wang Xin from the People's Bank of China. The central bank aims to increase monetary and credit supply, with room to reduce the RRR from its current 6.6%. This move comes as China's credit expansion slowed in November, highlighting economic challenges. Additionally, China will adopt more proactive fiscal policies, including increasing the fiscal deficit and issuing more government bonds, to boost growth and consumption.
China's central bank, the People's Bank of China (PBOC), has resumed its gold purchasing, increasing its holdings to 72.96 million fine troy ounces by the end of November. This marks a shift from earlier in the year when the PBOC halted buying due to price sensitivity after gold prices rose above $2400. The renewed buying suggests a continued effort to diversify away from US dollars, and it is expected to positively impact gold prices, especially during this favorable seasonal period for gold.
China's central bank, the People's Bank of China (PBOC), has kept its medium-term lending facility (MLF) rate unchanged at 2.0% to stabilize the yuan, which has weakened following the U.S. presidential election. This decision aligns with market expectations and allows for policy flexibility amid tight commercial bank margins and a strong U.S. dollar. Analysts predict the MLF rate will remain steady this year, with potential reductions in the future. The PBOC is also considering further cuts to the reserve requirement ratio to balance economic revitalization and exchange rate stability.
China's central bank, the PBOC, continued its gold buying streak for the 17th consecutive month in March, contributing to the surge in gold prices to a record high. The bank's gold reserves increased to 72.74 million fine troy ounces, as reported in official data released on Sunday.
China's yuan rebounded as the central bank set a stronger-than-expected daily reference rate, signaling support for the managed currency and easing concerns about further yuan weakness. The move comes after the yuan broke a key level on Friday, leading to increased global FX volatility, and indicates a willingness to prevent excessive depreciation that could spill over into regional and global currency markets.
The US dollar strengthened in Asia trade, pushing USD/JPY above 150.35, while Japan's finance minister's comments had little impact on the yen. The People's Bank of China (PBoC) announced a historic cut to its benchmark reference rate for mortgages, leading to the onshore yuan trading at its weakest against the dollar since November last year.
China's consumer prices have experienced their longest period of decline since 2009, with the consumer price index slipping 0.3% in December and factory-gate costs dropping 2.7% due to lower commodity prices and weak demand. This deflationary trend, coupled with the first annual decline in exports in seven years, is putting pressure on the People's Bank of China (PBOC) to provide more government support to reverse the trend.
China has successfully prevented a run on the yuan through coordinated market guidance and state bank buying, diverging from its heavy-handed intervention in 2015. This approach has included signaling acceptable levels of currency selling, targeted buying at key psychological levels, and verbal directives to banks to manage dollar holdings. While this has stabilized the yuan, it has also significantly reduced trading volumes and raised concerns about the currency's global reserve status. Despite the pressure, the yuan has remained above September's 16-year low, with market participants cautiously navigating the PBOC's influence.