The People’s Bank of China Isn’t Fooling Anyone With Its Latest Interest Rate Cut

People's Bank of China

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

China Clarifies Digital Currency Launch Rumors but Barely Kills the Hype

China, China digital currency, People's Bank of China, China central bank

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 Bans all ICOs

PBOC China ICO Ban Cryptocurrency

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