Crunch time for Singapore Dollar and Renminbi
We estimate that the USD-value of central bank FX reserves – adjusted for currency-valuation effects – in China, India, Indonesia, Korea, Malaysia, Philippines, Singapore, Taiwan and Thailand rose by about $342bn (1.5% of GDP) between end-March 2020 and end-February 2021 (see Non… Become a member to read the rest of this article Username or […]
CHINA: Signs of disagreement over monetary tightening and housing bubble risks
There are signs of disagreement among policymakers about how much to tighten monetary policy, with an influential voice warning that excessive tightening could trigger a sharp drop in housing prices. The proper role of monetary policy in restraining housing speculation has… Become a member to read the rest of this article
CHINA: Strengthening renminbi may encourage loosening of capital controls
The renminbi has strengthened 8% against the dollar over the last year, driven by a resurgent trade surplus and strong flows of foreign investment into China’s onshore bond market. Capital outflow restrictions may be loosened this year, as regulators seek to balance inbo… Become a member to read the rest of this article