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European Central Bank
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European Central Bank

European Central Bank
European Central Bank
The European Central Bank was established by the Treaty of Amsterdam in 1998 and is headquartered in Frankfurt, Germany. The objective of the bank is to maintain price stability within the euro zone.
US Treasury Secretary Scott Bessent speaks to reporters as he walks to the West Wing following an interview at the White House in Washington on August 20. Photo: EPA
United States

As I see it | The US is telling its trading partners – do as I say, not as I do

While Washington says it is monitoring certain countries, including Japan, for foreign exchange interventions, it also coordinated with Tokyo to prop up the yen.

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China-EU relations

China’s trade grip tightens in Europe as clock ticks towards October deadline

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Japan

US-Japan trade thaw driven by shared yen for stronger currency

China-EU relations

As I see it | Europe wants a new Plaza Accord for China – seriously?

Instead of hoping for Beijing to commit economic suicide, it would be more realistic for the EU to strike a mutually acceptable trade deal.

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European Council President Antonio Costa (second left) walks with German Chancellor Friedrich Merz amid discussions on the EU budget for 2028, in Brussels, Belgium, on June 19. Photo: dpa
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.

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

Opinion | AI has been known to hallucinate. So have financial markets

Stock markets are booming on the assumption that US tech giants will deliver, but as liquidity becomes scarce, a reality check will ensue.

A sign displays outside Nasdaq on the day of SpaceX’s initial public offering in New York on June 12. Photo: Reuters
Banking & finance

China trims US Treasury holdings to 18-year low

Overall foreign holdings of US Treasuries climbed to US$9.353 trillion in April.

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China trade

Exclusive | ‘We cannot rely entirely on America’: Europe urged to deepen China ties on AI

Euro architect Christian Noyer says Chinese capital can help Europe build AI, green industries and strategic autonomy as it revamps markets.

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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
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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The Fifa World Cup trophy is seen on display in the US state of New Jersey earlier this month. Photo: IMAGN IMAGES via Reuters Connect
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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Banking & finance

China among top buyers as gold overtakes US Treasuries in global reserves: ECB

Higher prices and global shocks have fuelled demand for gold, as central banks hedge against uncertainty.

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Banking & finance

Macroscope | Australia’s interest rate rise signals growing hawkish stance in Asia

Reserve Bank of Australia is less an outlier than a harbinger of global monetary trends in the wake of war-induced supply shocks.

A pedestrian walks past a petrol station with fuel prices on display in Williamstown, Australia, on March 26. Photo: AFP
Central banks

Macroscope | Asian central banks largely powerless in face of Iran war energy shock

Central banks cannot pump oil into the global economy in the same way they can flood the financial system with liquidity.

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Workers change the price of fuel at a petrol station in Manila on March 17. Photo: AFP
Hong Kong stock market

Markets brace for rate hikes as prolonged Iran war stokes tightening fears

The European Central Bank has become more hawkish, reverting to wording that analysts say often precedes interest-rate increases.

Japan

Macroscope | Could Japan stop being the ballast of the bond market?

A lower house election victory would give flight to Prime Minister Takaichi’s fiscal expansionism – and introduce upheaval far beyond Japan.

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China-EU relations

European leaders say the quiet part out loud: order no longer constrains power

EU leaders appear to have finally accepted they are facing a new era of great power competition – the question now is how they respond.

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Illustration: Henry Wong
China-EU relations

Opinion | EU-China ties are stuck between interdependence and rivalry

To break the pattern of trade escalations with Beijing, Brussels must move beyond tariffs and invest in its own competitiveness.

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China-EU relations

Why China and Europe need to talk and how they can cope with chaos

Joerg Wuttke lays blame on both sides for troubled relations and calls for a new Manhattan Project to break Chinese dominance on rare earths.

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France

French PM sacrifices Macron’s pension reform to avert government collapse

Sebastien Lecorn’s proposal wins Socialist support and seems to stave off a no-confidence vote threat.

French Prime Minister Sebastien Lecornu on Tuesday. Photo: Reuters
China-EU relations

Europe’s 3-body problem: collapsing global order sparks hunt for new trajectory

Some are sceptical the EU’s talk of ‘economic security’ can translate into action, but there are early signs that may be changing.

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Many in Europe feel hopeless when observing the three powers – China, the US and Russia – creating instability. Experts believe the EU must move faster. Photo: AFP
China-EU relations

Why new EU steel tariffs to curb Chinese imports are giving carmakers a headache

Proposal to cut tariff-free quotas, double duties for imported steel triggers sell-off in Europe’s auto stocks, complaints from industry group.

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Hong Kong economy

Editorial | US rate cut offers Hong Kong relief but uncertainties remain

The city’s property and stock market can expect a boost but much that is affecting the local economy and its outlook is beyond our control.

United States

Lagarde warns Trump’s Fed meddling poses ‘serious danger’ to world economy

European Central Bank Christine Lagarde stressed that central bank independence is vital for economic stability and price stability.

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European Central Bank President Christine Lagarde addresses a press conference on the Eurozone’s monetary policy in Germany in June. Photo: AFP
Central banks

Macroscope | Central banks rush to gold as fears of US dollar crisis mount

Central bank gold holdings are now back to where they were in the 1960s, before gold went out of official fashion.

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A goldsmith examines ornaments at the Hua Seng Heng gold shop in Bangkok on June 23. Thailand’s gold prices continue to surge, rising in line with the global market following US air strikes on Iran amid the Israel-Iran conflict, according to The Gold Traders Association. Photo: EPA-EFE
Yuan

China’s yuan fixing rate hits 2-month high as US dollar drops

With the US dollar sagging, China’s central bank has strengthened the midpoint rate for the country’s currency in recent days.

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US-China trade war

Will US dollar doubts, risk of ‘triple whammy’ give rise to yuan’s renaissance?

In the wake of tariff turmoil and Washington’s ‘Big Beautiful Bill’, analysts are questioning safety of US assets while yuan’s resilience turns heads.

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