People's Bank of China
China cuts key mortgage rate to boost economy
China's central bank yesterday cut a key benchmark lending rate used to price mortgages, as Beijing seeks to rescue its housing market from a deepening crisis and boost flagging growth in the country's economy.
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Tabakovic signs MoU with People's Bank of China governor
BELGRADE - National Bank of Serbia (NBS) Governor Jorgovanka Tabakovic and People's Bank of China Governor Pan Gongsheng signed a memorandum of understanding on establishment of a clearing arrangement and the designation of a clearing bank in Serbia for the Chinese yuan.
Serious Concerns Over Yuan in China
The largest Chinese state banks were busy this week selling US dollars for yuan, both in onshore and offshore foreign exchange markets, to slow down the depreciation of the yuan. While they also trade on their own behalf or to fulfill client orders, state banks often act on the central bank's instructions when the yuan is under pressure, as is the case currently.
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International Art Markets Embrace the Digital Yuan
In the dynamic context of our rapidly evolving global environment, the convergence of time-honored industries with state-of-the-art technologies has given rise to a myriad of inventive and forward-thinking solutions.
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China cuts two benchmark rates to prop up economy
China's Central Bank yesterday cut two benchmark interest rates, following several similar measures in recent days in a bid to counter the post-COVID growth slowdown in the world's second-largest economy.
Last week, the People's Bank of China (PBoC) lowered two other key rates and pumped billions into financial markets, as fresh data showed the economy continued to struggle.
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Central banks diverge over regional challenges
In Washington they paused; in Frankfurt they hiked; and in Beijing, they cut.
Central bankers in three of the world's key economic regions have unveiled divergent monetary policies this week as they each contend with their own challenges.
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China's exports fall 7.5 pct in May
China's exports fell in May for the first time since February, data showed yesterday, breaking a two-month growth streak as a post-Covid rebound faded and adding to speculation that officials will unveil fresh stimulus measures.
Rising global inflation, the threat of recession elsewhere and geopolitical tensions with the United States have weakened demand for Chinese products.
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China economic data miss expectations
China's economic data for April missed expectations last month, official figures showed yesterday, as low demand and high youth unemployment led to a patchy recovery after lifting strict COVID rules.
Retail sales - a key indicator of domestic consumer activity -- grew 18.4 percent on-year, data released by the National Bureau of Statistics (NBS) showed.
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China retains central bank chief
China retained its central bank chief on Feb. 12 in a surprise move, as the country appointed a cabinet focused on fighting economic headwinds.
Yi Gang was confirmed as governor of the People's Bank of China at a meeting of China's rubber-stamp national legislature, against expectations that retirement-age Yi would step down.
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Ankara in talks with four countries for swap deals
The Turkish Lira cheered Central Bank Governor Şahap Kavcıoğlu's announcement late on June 22 that the country was in talks to secure currency swap agreements with four countries and was close to a deal with two of them.
Kavcıoğlu's remarks came during a meeting with bank executives, according to media reports.
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