China 

China’s central bank denies collecting utilities records in attempt to ease concerns over social credit system

An individuals utility bill payment history will not be included as part of an upgrade to the credit monitoring system operated by China’s central bank, with The People’s Bank of China vowing to maintain the quality of data in an apparent attempt to ease concerns that the system is becoming too intrusive into the lives of the population.The central bank has not yet collected any utilities data, although the new system will have the ability to add data concerning water, power and… Source link

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Vietnam 

Central province’s Q1 investment surpasses yearly target – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  A view of the city of Huế in the central province of Thừa Thiên Huế.  — Photo baodautu.vn HÀ NỘI — The central province of Thừa Thiên Huế granted approval in principle for seven projects with a total investment capital of more than VNĐ13 trillion (US$558 million) in the first quarter of this year. The period’s investment result far exceeded the yearly target of VNĐ10 trillion ($430 million) set earlier by the provincial People’s Committee, a report from the province’s Department of Planning and Investment revealed. The projects included a…

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China’s central bank suggests it will stem flood of money into economy

China’s central bank, which has been pumping funds into the fragile economy over recent months, has suggested it will not flood the market with excessive liquidity, in a quarterly monetary policy document, released on Monday.The People’s Bank of China (PBOC) summarised its first quarter monetary policy committee meeting, during which the PBOC said it will block the “general valve” of money supply, showing a preference for restraint and suggesting major moves towards easing are unlikely.The PBOC… Source link

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Vietnam 

Central bank asks for tightened control over real estate loans – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  The State Bank of Việt Nam has asked for control over real estate loans of credit institutions to be enhanced, especially in areas showing signs of land price fever. — Photo vneconomy.vn HÀ NỘI — The State Bank of Việt Nam (SBV) has asked for the control over real estate loans by credit institutions to be enhanced, especially in areas showing signs of land price fever. SBV’s Governor Lê Minh Hưng in a recent document about lending operations in 2019 asked its branches and banks to keep a close…

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Global 

Singapore’s central bank ends tightening cycle as growth slows amid cooling economy

Singapore’s central bank on Friday kept its monetary settings unchanged after two consecutive rounds of tightening, underscoring policymakers’ concerns about a cooling economy and rising risks to the outlook from slackening global demand.The Monetary Authority of Singapore (MAS), which manages policy through exchange rate settings rather than interest rates, said it would maintain the slope of the Singapore dollar’s policy band while keeping the width and level at which the band is centred… Source link

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Vietnam 

Central bank sets to tighten unsecured consumer finance – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Regulations on personal unsecured lending by consumer finance companies will be tightened. — Photo VietTimes.vn HÀ NỘI — Regulations on personal unsecured lending by consumer finance companies will be tightened if a draft circular of the State Bank of Việt Nam (SBV) takes effect. Under the draft circular to amend the Circular No. 43/2016/TT-NHNN stipulating consumer lending by financial companies, the central bank proposes to limit unsecured personal loans – known in Vietnam as ‘cash loans’ – to existing customers with good credit history according to the internal regulations of…

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Home 

The US dollar will continue its triumphant run – unless central banks and the American economy change course

There have been quite a few surprises in financial markets this year. The US Federal Reserve, which turned increasingly hawkish last year, stunned investors in late January when it performed a dramatic U-turn in monetary policy by opening up the possibility of a cut in interest rates.Just as surprisingly, sentiment towards emerging markets has recovered to such an extent that developing economies are now the most popular region among equity investors despite the slowdown in China, according to… Source link

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Home 

China’s slowing economy gives its central bank chief the chance to make his mark on monetary policy history

Discussions about China’s interest rate liberalisation have been warming up since Yi Gang took over as governor of the People’s Bank of China (PBOC). This is not surprising given that Yi is a distinguished scholar, with central banking experience and expertise in monetary economics. Also, like his predecessor Zhou Xiaochuan, known as “Mr Renminbi” for leading the push for a global yuan, Yi is probably keen to make his mark on China’s monetary policy history.However, the ongoing market… Source link

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Vietnam 

Central city debuts IT Park, starting aerospace industry – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News Central city debuts IT Park, starting aerospace industry ĐÀ NẴNG — Deputy Prime Minister Vũ Đức Đam and representatives of Đà Nẵng and ministries officially inaugurated the first stage of the Đà Nẵng Information Technology Park (DITP) after one year of construction at a ceremony yesterday. The DITP, which is the country’s largest centralised information technology centre, is being built in central Việt Nam’s ‘Silicon Valley’ with total investment of $120 million in two stages. The park, invested and built by Trung Nam…

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Global 

Central banks must turn to global financial crisis tool box to tackle the next recession, says Fed’s Rosengren

The United States’ central bank may have to dust off some of the tools that helped steer the economy through the global financial crisis a decade ago should another recession hit, Boston Federal Reserve Bank president Eric Rosengren said on Tuesday.With interest rates already low leaving limited room for cuts, the US Federal Reserve would likely have to turn to quantitative easing and other balance sheet tools to stimulate its economy, in the case of a downturn.“I dare say it is important for… Source link

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