Asia Banking
Currency appreciation in Taiwan sparks concern in business and on the street
Over the past week, the New Taiwan Dollar has experienced a significant appreciation against the US dollar, surging nearly 6% in a month and marking its largest single-day gain since the 1980s.
China’s central bank unveils 10-point plan to help calm markets, steer growth
Among the most headline-grabbing moves is a 0.5 percentage point cut in the reserve requirement ratio, expected to unleash some CNY1 trillion ($138bn) into the financial system. But that’s just the beginning.
Reserve Bank of India signals further rate cuts as inflation eases and growth outlook weakens
With inflation in India expected to remain close to target during the current fiscal year, the Reserve Bank of India has room for further monetary easing, members of the Monetary Policy Committee said in the minutes of the April policy meeting.
Singapore eases monetary policy again as growth outlook dims and tariff pressures mount
In its latest policy statement, MAS announced a reduction in the rate of appreciation of the Singapore dollar nominal effective exchange rate policy band, though it will maintain a path of gradual appreciation.
Russia and Indonesia work on direct bank settlement framework to bolster trade
Russia and Indonesia are currently working to establish direct settlement mechanisms between their respective banking institutions.
Bank of Korea expected to lower rates in April despite currency slide
South Korea's central bank is leaning towards reducing interest rates this April, even as the national currency hits its weakest point since 2009.
Bank Indonesia: Rupiah slide won’t trigger debt or inflation crisis
Bank Indonesia has assured the public that the recent depreciation of the rupiah will not lead to increased debt burdens or inflationary pressures.
PANNIER: China’s big push into Uzbekistan
Wave of projects in energy, mining, factories and construction and water conservation. Critical minerals could be next.
Singapore’s lender OCBC warns of slower loan growth in 2025 after missing profit estimates
Oversea-Chinese Banking Corp, Singapore’s second-largest lender, has forecast a slowdown in loan growth for 2025 following a weaker-than-expected rise in fourth-quarter earnings.