Tag: People's Bank of China

• Thursday, August 13th 2015 - 06:17 UTC

  For third consecutive day China weakens the Yuan against the US dollar

  

  The People's Bank of China (PBoC) weakened the Yuan against the dollar for a third consecutive day on Thursday, following reports the central bank intervened to stem the currency's sharp slide late on Wednesday. The PBoC set the Yuan fixing at 6.4010, compared to the previous day's close of 6.3870, sending the currency 0.7% lower to 6.43 per dollar in early trade.

• Wednesday, August 12th 2015 - 07:51 UTC

  Wednesday’s China shockwave: Yuan devalued 1.6%; IMF support, US Treasury cautious

  

  Chinese shares were lower on Wednesday as its central bank again devalued the yuan, following Tuesday's record cut. The People's Bank of China fixed the daily guiding rate for the currency down 1.6% to 6.3306 against the dollar.

• Monday, May 11th 2015 - 10:08 UTC

  China's cuts interest rates to reduce cost of borrowing and boost the economy

  

  China's central bank announced Sunday it would cut interest rates by 25 basis points as authorities seek to boost the flagging economy following a raft of data indicating a slowdown. The benchmark one-year lending rate would be reduced to 5.1% and the deposit rate to 2.25% from Monday, the People's Bank of China (PBoC) said on its website.

• Saturday, November 22nd 2014 - 06:00 UTC

  World markets celebrate after China cuts benchmark interest rates

  

  China's central bank on Friday unexpectedly cut benchmark interest rates for the first time in more than two years, as authorities seek to prop up flagging growth in the world's second-largest economy.

• Friday, October 31st 2014 - 08:08 UTC

  Chinese relief for Argentina: central banks activate currency-swap

  

  The central banks of Argentina and China on Thursday activated a bilateral currency-swap agreement, which meant that the Argentine central bank received an initial tranche of Yuan equivalent to 814 million dollars.

• Monday, September 8th 2014 - 06:35 UTC

  China aids Argentina: a billion dollars in Yuan pledged by end of the year

  

  Argentina's central bank chief, Juan Carlos Fabrega, met his Chinese counterpart Zhou Xiaochuan in Basilea, Switzerland on Sunday to discuss how a currency swap worth billions of dollars will be put into action, the Argentine monetary authority said.

• Saturday, July 19th 2014 - 06:41 UTC

  China confirms its interest in Brazil with credit and infrastructure projects

  

  China expanded its trade partnership with Brazil with 7.5 billion dollars in financing for Brazilian miner Vale, the purchase of 60 passenger jets from plane-maker Embraer and renewed commitment to invest in infrastructure.

• Friday, March 28th 2014 - 06:45 UTC

  London becomes hub for Chinese currency dealings and clearing

  

  The Bank of England has agreed a deal with the People's Bank of China to make London a hub for Chinese currency dealing. The memorandum of understanding, to be signed next Monday, sets out settlement and clearing arrangements for the Renminbi, or Yuan, in London.

• Monday, March 18th 2013 - 08:02 UTC

  China will provide 2bn dollars for Latam development projects through IDB

  

  China will provide up top 2 billion dollars for an Inter American Development Bank (IDB) fund, in support of projects for the public and private sector that promoted sustainable growth in the region.

• Saturday, June 30th 2012 - 04:37 UTC

  China prepares the ground for the Yuan to gradually become a reserve currency

  

  China will make part of the booming Shenzhen economic zone, a test ground for freer Yuan usage and capital account convertibility, the National Development and Reform Commission said on Friday.