The Dow followed Chinese equities higher Monday after the People’s Bank of China announced a fresh liquidity boost to shore up the financial system. The gains quickly evaporated as Boeing, American Express and Goldman Sachs tumbled.
Wall Street and global stocks are off to a good start in 2020 after the People’s Bank of China provided a fresh liquidity boost to Chinese banks.
Zhou Xiaochuan, PBOC’s former governor, said that China would continue developing a digital yuan for retail and international settlements.
The People’s Bank of China (PBOC) kicked off a new easing cycle on Monday by lowering interest rates for the first time in four years – a move designed to safeguard against further trade-war turbulence. For all the talk about President Trump being “easy to read,” China doesn’t seem to be fairing too well in … Read more
The People’s Bank of China addresses rumors about its digital currency launching in Q1 2020. Speculations mount about the government-backed cryptocurrency. A few details are known about the upcoming digital renminbi. The People’s Bank of China has made an official statement to refute reports of an impending digital currency launch. This was meant to brush … Read more
China’s central bank has announced an immediate blanket ban on all initial coin offering (ICO) funding, deeming it to be an illegal practice of fundraising. An official notice from the People’s Bank of China (PBoC), China’s central bank and financial regulator, see the authority enforce a ban on ICO funding that has “seriously disrupted the … Read more