The post PBOC sets USD/CNY reference rate at 6.8036 vs. 6.8077 previous appeared on BitcoinEthereumNews.com.
The People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead on Thursday at 6.8036 compared to the previous day’s fix of 6.8077 and 6.7978 Reuters estimate. PBOC FAQs The primary monetary policy objectives of the People’s Bank of China (PBoC) are to safeguard price stability, including exchange rate stability, and promote economic growth. China’s central bank also aims to implement financial reforms, such as opening and developing the financial market. The PBoC is owned by the state of the People’s Republic of China (PRC), so it is not considered an autonomous institution. The Chinese Communist Party (CCP) Committee Secretary, nominated by the Chairman of the State Council, has a key influence on the PBoC’s management and direction, not the governor. However, Mr. Pan Gongsheng currently holds both of these posts. Unlike the Western economies, the
The post Gold declines below $4,100 as US–Iran tensions revive inflation worries, Fed rate hike bets appeared on BitcoinEthereumNews.com.
Gold price (XAU/USD) declines to around $4,075 during the early Asian session on Thursday. The precious metal extends its downside as US President Donald Trump said the ceasefire with Iran has ended, stoking concerns that a renewal of war could again drive inflation and push up interest rates. Reuters reported on Thursday that Trump stated that an interim agreement aimed at ending the conflict with Iran was “over.” Additionally, US President threatened to bomb Iran for a second day and reimpose the US naval blockade in retaliation for attacks on tankers transiting the Strait of Hormuz. “The main factor for today’s move is the increased escalation in tensions between the U.S. and Iran, with a potential ceasefire over, we’ve seen risk assets across the board trade lower, gold included,” said David Meger, director of metals trading at High Ridge Futures
The post China: Growth support constrained – TD Securities appeared on BitcoinEthereumNews.com.
TD Securities’ Senior Asia Economist Alex Loo argues that China’s fiscal stance is turning austere as local governments prioritize debt clean-up over growth. The report expects only limited fiscal support in H2 2026 unless GDP drops towards 4.0–4.2%, with policy likely focused on faster infrastructure execution, modest PBoC easing and continued Ministry of Finance conservatism. Stimulus hopes face fiscal constraints “We examine China’s fiscal balance and conclude that local officials are focusing on debt clean-up instead of boosting economic growth. Fiscal policy is unlikely to deliver major H2 support unless GDP growth in 2026 slips towards 4.0-4.2% (vs our forecast of 4.6%).” “Policy support is likely to come through faster infrastructure execution, not major new stimulus. A weak Q2 GDP print next week in the low-4% range will spark speculation of new stimulus from authorities.” “The likel
The post HKMA, PBOC Back New Trading Platform to Bolster Hong Kong FIC Markets appeared on BitcoinEthereumNews.com.
Ted Hisokawa
Jul 08, 2026 10:06
The PBOC, HKMA, and SFC are spearheading a new electronic fixed income and currency trading platform in Hong Kong to enhance market efficiency and RMB internationalisation.
The People’s Bank of China (PBOC), the Hong Kong Monetary Authority (HKMA), and the Securities and Futures Commission (SFC) have jointly announced plans to develop an electronic fixed income and currency trading platform (FIC Trading Platform) in Hong Kong. The initiative aims to strengthen financial cooperation between Hong Kong and Mainland China while reinforcing Hong Kong’s role as a global financial hub and offshore RMB centre. The platform, a collaboration between the China Foreign Exchange Trade System (CFETS) and Hong Kong Exchanges and Clearing Limited (HKEX), reflects efforts to modernise Hong Kong’s market infrastructure. By adhering to inter
The post India’s Crypto Crackdown Deepens as Central Bank Urges Ban on Bank Exposure appeared on BitcoinEthereumNews.com.
India’s central bank urges crypto prohibition and bank exposure limits as tax officials flag offshore trading risks. India’s central bank has again called for a crypto policy that leans toward prohibition. Reuters reported the position after reviewing recent government documents. The Reserve Bank of India recommended barring banks from holding, trading, or gaining exposure to crypto assets. It also included privately issued stablecoins in the warning. India’s tax department raised concerns about offshore exchanges, private wallets, and peer-to-peer trades. It said these channels can make owners and taxable income harder to trace. The documents arrived while India still lacks a final national crypto policy. Tax department estimates show nearly 39 million users held about $2.1 billion in digital assets. RBI Seeks Stronger Limits on Crypto Exposure The RBI said crypto
India’s central bank urges crypto prohibition and bank exposure limits as tax officials flag offshore trading risks. India’s central bank has again called for a crypto policy that leans toward prohibition. Reuters reported the position after reviewing recent government documents. The Reserve Bank of India recommended barring banks from holding, trading, or gaining exposure to […]
The post India’s Crypto Crackdown Deepens as Central Bank Urges Ban on Bank Exposure appeared first on Live Bitcoin News.
The post India Crypto Tax Filings Lagged Trading Activity: Reuters appeared on BitcoinEthereumNews.com.
India’s tax department reportedly found widespread gaps in crypto tax reporting, warning that offshore exchanges, private wallets and peer-to-peer (P2P) trades are making crypto activity harder to track. Reuters on Wednesday reported government documents showed that fewer than a quarter of 645,000 individuals who made crypto transactions in the year ending in March 2023 reported the trades on their tax returns. The department also reportedly estimated that India had about 39 million crypto traders holding over $2.1 billion in crypto at the end of May. The findings add a tax-enforcement factor to the country’s long-running digital asset policy debate, moving the issue beyond the central bank’s financial-stability concerns and into questions on offshore trading and recoverable tax revenue. India was ranked first in Chainalysis’ 2025 Global Crypto Adoption Index. The report comes days
The post Crypto India: RBI Reiterates Crypto Ban Call, but No Policy Change Announced appeared on BitcoinEthereumNews.com.
The post Crypto India: RBI Reiterates Crypto Ban Call, but No Policy Change Announced appeared first on Coinpedia Fintech News The Reserve Bank of India has reiterated its long-standing call for a cryptocurrency ban, according to Reuters. The RBI continues to cite risks to financial stability, monetary policy, and consumer protection. However, the central bank cannot impose a nationwide ban on its own. Any such measure would require approval from the Government of India and … Source: https://coinpedia.org/crypto-live-news/crypto-india-rbi-reiterates-crypto-ban-call-but-no-policy-change-announced/
The post 6.8000: Chinese Yuan looks contained despite PBoC push to make Hong Kong main offshore hub appeared on BitcoinEthereumNews.com.
The offshore Chinese Yuan (CNH) is capturing market attention following a sweeping set of structural measures announced by the People’s Bank of China (PBoC) to cement Hong Kong’s status as a global offshore hub for the Yuan. While the central bank is proactively injecting deep liquidity via expanded business facilities and investment quotas, its broader monetary policy remains anchored in a supportive yet cautious holding pattern. This long-term push toward internationalization contrasts with a highly contained short-term technical background, where the USD/CNH pair remains firmly locked within a strictly defined trading band. USD/CNH daily chart. Source: FXStreet. Expanded liquidity facilities boost Hong Kong’s offshore yuan architecture Macro analysts at BNY highlight that the Chinese central bank has significantly upgraded cross-boundary financial
