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Central banks

Central banks
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.
Indonesia and China flags. Photo: Shutterstock
Banking & finance

Indonesia set to issue US$1 billion in panda bonds in China

The Southeast Asian country will offer the bonds in an attempt to better stabilise its national finances as the rupiah continues to fall.

Banking & finance

Can Shanghai’s offshore finance push test Hong Kong’s dominance?

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Yuan

Hong Kong readies offshore yuan initiatives after Shanghai move

Yuan

China’s central bank sets weaker yuan midpoint against US dollar for third day

The move comes after European Central Bank chief urged global leaders to discuss undervaluation of the Chinese currency.

The People’s Bank of China set the yuan’s midpoint rate weaker for a third day at 6.8195 per US dollar on Wednesday. Photo: AFP
China-EU relations

European Central Bank’s President Lagarde urges talks on yuan undervaluation

China has denied it manipulates its currency for trade advantage but its surging trade surpluses are worrying leaders of the G7 nations.

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Banking & finance

The panda bonds: how China uses assets to boost yuan, cement partnerships

Brazil is preparing to issue panda bonds, another indicator of the rising popularity of yuan-denominated assets amid a de-dollarisation trend.

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US-China relations

‘A new chapter’: how Warsh’s US Fed debut is being viewed in China

A clearer focus on inflation and institutional changes could mark a watershed moment for the central bank, analysts say.

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New US Federal Reserve Chair Kevin Warsh holds a press conference following a two-day meeting of the Federal Open Market Committee at the US Federal Reserve in Washington on Wednesday. Photo: Reuters
China's economic recovery

China’s policy blitz at Lujiazui Forum – what the monetary overhaul means

Regulators are leveraging currency strength to formalise outbound routes, granting fresh quotes for global assets while narrowing the interest-rate corridor.

US-China trade war

China touts new finance tools to fend off sanctions

Anti-sanctions measures and efforts to globalise the yuan were among key topics as Chinese finance regulators and policymakers addressed the 2026 Lujiazui Forum.

United States

US Fed begins Warsh era with hold on interest rates, may hike later this year

The Trump appointee is taking over amid repeated demands by the US president for rate cuts even as inflation becomes a growing concern.

US Federal Reserve Board Chairman Kevin Warsh speaks during a news conference in Washington on Wednesday. Photo: EPA
Indonesia

Indonesia’s rupiah rebounds but rate rises threaten the middle class

A successful sovereign wealth fund debut and a stock market rally offer a reprieve, even as higher borrowing costs threaten growth.

An Indonesian rupiah banknote pictured next to a US dollar banknote at a currency exchange office in Jakarta. Photo: AFP
Yuan

Shanghai to lead ‘financial superpower’ push as China unveils plan to boost yuan

China’s central bank governor speaks at annual financial forum about further opening repurchase facilities and offshore trading to foreign central banks.

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China-Latin America relations

Argentina edges back to China on currency swap despite US pressure

Buenos Aires denies negotiating renewal, but the US$19 billion swap expires August 6, and Argentine reports say talks are already advancing.

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China consumption

China credit data shows demand dip, household deleveraging amid weak investment

But while traditional industries are mired in a downturn, hi-tech firms look to expand – many through direct financing.

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People walk along a street in Shanghai on Tuesday. Households in China are showing a weak appetite for taking on debt. Photo: EPA
Investing

Why gold may rebound 13% this year – and what could hold it back

Metal’s upside rests on central-bank demand and easing oil shock, but higher yields and AI spending may temper recovery, money managers say.

Gold is forecast to climb to between US$4,750 and US$5,500 an ounce by the end of 2026, according to State Street Investment Management. Photo: Reuters
Yuan

Yuan poll finds 95% of overseas firms expect to sustain or boost use of currency

Increased international adoption of China’s currency highlights progress in Beijing’s strategic push amid the US dollar’s global financial dominance.

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Hong Kong Monetary Authority (HKMA)

Hong Kong, Indonesia move towards direct transactions in yuan, rupiah

Agreement between People’s Bank of China, HKMA and Bank Indonesia aims to enhance efficiency and encourage use of the currencies.

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United States

Macroscope | Investors expecting a US interest rate rise could be in for a surprise

Rising bond yields are doing some of the Fed’s work, as are investor fears over the US central bank’s independence under Kevin Warsh.

US President Donald Trump (right) enjoys a light moment during the swearing-in ceremony for US Federal Reserve chair Kevin Warsh, in the East Room of the White House in Washington, on May 22. Photo: Reuters
Yuan

‘Increasingly influential’ use of China’s currency puts euro on notice

The US dollar is still dominant, but a slump in Europe may see China’s currency gain strength and reach the No 2 spot in global settlements.

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Fifa World Cup 2026

Gold-laden World Cup trophy’s value surges 157% – how much is the bullion worth?

While priceless to players, all that shimmers in the iconic Fifa statue has seen its intrinsic value skyrocket amid a historic rally since the last tournament.

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China consumption

Gold slump: China’s sales plunge as precious metal’s price dips

While China’s interest in gold is unlikely to fade, investment-grade product sales have dwindled after 15 months of retail growth.

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Gold sales have slumped in China as the global spot price drops amid consumer caution and an unstable economic outlook. Photo: Getty Images
Banking & finance

Macroscope | Why bond yields are going up everywhere

Unlike stock markets, bond markets are signalling a more cognisant and mature appreciation of the state of government finances.

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A woman walks past anti-US graffiti painted on the wall of Tehran University in Iran, on April 25. The war has pushed up inflation and added to the financial burden of already highly indebted countries. Photo: AP
South Korea

‘Transitory euphoria’: South Korea’s strong economic outlook masks key hurdles

The surge in demand for semiconductors is cyclical, while other sectors in the country are lagging, analysts say.

Yuan

For a yuan in deeper markets, Fed ex-head cites dollar playbook, flags risks

Meanwhile, surging costs are ‘likely to hit US inflation data a bit harder and perhaps longer’ than expected, according to the former central bank official.

United States

US key inflation gauge worsens, eroding Americans’ income, spending power

Inflation of 3.8 per cent in April was the highest since May 2023 amid high petrol prices and food costs.

Supermarket shoppers in Chicago, the US earlier this month. Photo: Getty Images via AFP
US, Israel war on Iran

Gold continues decline as inflation fears outweigh hope of end to Iran war

The metal is down nearly 20 per cent from its all-time high in January as investors focus on the Federal Reserve’s plans to combat inflation.

A salesman presents gold bars at a jewellery shop inside the Gold Market at the Old Souk in Dubai, United Arab Emirates on April 13. Photo: EPA
United States

Warsh takes US Fed’s helm with inflation dilemma already unfolding

Trump’s pick to lead the central bank must contend with an economy roiled by the AI boom, as well as oil price and tariff shocks.

Bonds

Macroscope | Bond market sell-off raises stakes for Asia’s tech-driven economies

Stakes are high for Asia’s tech-driven economies amid a global sell-off in bond markets that signals investor fears.

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