PBoC

World economy 16th June 2023

PBoC sticks to script and lowers one-year rate to 2.65% from 2.75% previously

Bankinter : The People’s Bank of China (PBoC) lowers the 1-year funding rate to 2.65% from 2.75% previously (in line with estimates); (ii) Industrial Production +3.5% in May (year-on-year) vs. +3.5% estimated and +5.6% previously; (iii) Retail Sales +12.7% in May (year-on-year) vs. +13.7% estimated and +18.4% previously. Bankinter’s analysis: The PBOC sticks to the script and lowers one-year rates after doing the same on Tuesday with the REPO rate….

World economy 26th August 2019

Jackson Hole in the sky

Christian Gattiker, Head of Research, Julius Baer │It is about time: central bankers present their take on the current mess at the Jackson Hole meeting, the prime plat-form for this. The more concerned they are the better. We think concerted central bank action will still avoid a global recession. Warming up to fiscal easing, as in Germany, is the icing on the cake.

World economy 8th November 2017

China: Governor Zhou Counterbalance Of President Xi’s Grand Talk Of A “New Era”

Last week, People’s Bank of China (PBoC) Governor Zhou reaffirmed his concerns about the stability of the financial system in an article. Susan Joho, economist at Julius Baer points that he surprisingly spoke boldly of the risks of a Chinese Minsky moment.

World economy 24th September 2017

5 Things to Know About China’s Crackdown on Initial Coin Offerings

Liu Xiao via Caixin |Initial coin offering (ICO), an increasingly popular crowdfunding phenomenon in which new cryptocurrencies make their debut, continues to make headlines. But this time it’s about the swift and broad crackdown of the sector in China.

Central banks' QE was a powerful driver of the economy and markets

World economy 26th July 2017

Central Banks Need To Cooperate To Deal With Crises

The Fed signed five major swap arrangements with allied central banks that totaled more than $580 billion in 2008, whereas the People’s Bank of China signed more than 30 bilateral currency swap agreements valued at $490 billion in year 2017.

World economy 20th July 2016

China: Stable Growth Momentum, So Far − Slowdown Ahead

Julius Baer Research| Thanks to significant fiscal support measures, China was able to keep its annual growth rate stable at 6.7% and even accelerate its quarterly expansion rate from 1.2% to 1.8% in Q2 2016. China has several options to manage the expected slowdown ahead: fiscal spending, interest-rate cuts and renminbi devaluation will be able to limit the cyclical risks ahead.

World economy 3rd March 2016

China Aims To Increase Money Supply By 13% In 2016

The weakness of the Caixin’s PMI, where services and the composite indexes moderated growth to 51.2 and 49.4 respectively, reminds Intermoney’s analysts of the reality that is China’s economic slowdown.

World economy 29th December 2015

Pondering China, the People’s Bank of China And QE

Benjamin Cole via Historinhas | Westerners love to hazard guesses on China and that is what they are, guesses. Even a Mandarin speaker in Hong Kong (with whom I recently conversed), with family on the mainland and employed at a large private-equity fund, professes no special insights into opaque China. But China’s central bank, The People’s Bank of China, appears to have eschewed the advice of Western central bankers, and gunned the money presses this summer. Moreover, the PBoC tactic looks to be working.

World economy 28th August 2015

China badly needs reshuffling

The Chinese authoritiess’ failure to prevent a stock exchange meltdown is casting serious doubts on economic prospects and so fuelling further losses.

World economy 27th August 2015

What to expect from Chinese authorities?

On the policy front the Chinese state continues to wield its influence over large parts of the real economy.

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