The People’s Bank of China’s decision to halt bond buying is exacerbating the rise in short-end rates and flattening the yield curve, spurring bets the central bank may resume government debt purchases.
China’s central bank kept a key policy rate steady while injecting liquidity into the financial market, signaling that it may hold benchmark rates unchanged for longer.
Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions of people worldwide every day. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers.
Zou Lan, head of the monetary policy department at the People's Bank of China (PBOC), will be promoted to deputy governor of the central bank, two sources with knowledge of the matter said.
The People’s Bank of China pumped about $131 billion worth of liquidity via seven-day reverse repurchase agreements.
The People’s Bank of China ((PBoC)) maintained the 1-year LPR at 3.1% for corporate and most household loans, and the 5-year LPR at 3.6% for mortgages. Both rates are at record lows following rate reductions last year in October and July.
Investments from the National Social Security Fund, mutual funds and other sources will be increased to boost the stock market, regulators say.
China's central bank and top securities regulator have vowed to ramp up supportive policy tools to shore up the country's capital market. The remarks were made at a recent seminar on stock buyback and repurchase loaning program,
The Chinese currency jumped against the US dollar as trade war worries receded, but some fear the gains may be ‘short-lived’.
Asian equities were mixed overnight as Hong Kong, Mainland China, Thailand, and South Korea all underperformed while Taiwan was closed.
BEIJING, 24th January, 2025 (WAM) -- China’s gold production rose by 0.56% to 377.24 tonnes in 2024, while the People’s Bank of China increased its gold reserves by 44.17 tonnes to reach 2,279.57 tonnes by the end of the year, maintaining its position as the world’s sixth-largest gold holder.
The People’s Bank of China vowed to help the economy grow this year, firming expectations of more monetary easing.