What Happens to the Yuan Now? – Wall Street Journal (subscription) China’s central bank says it wants the yuan to be stable, but slowing growth could pressure officials to weaken the currency.
Inflation Pickup Too Little Too Late to Keep ECB From Easing – Bloomberg A pickup in euro-area inflation in November may prove too tame to stop Mario Draghi in his tracks.
Bloomberg, Schapiro to Chair New RMB Group – Profit & Loss A group of senior figures from the US financial services industry, including Michael Bloomberg and Mary Schapiro, have formed The Working Group on US RMB Trading and Clearing, to establish Chinese renminbi trading and clearing in the US.
Bank of England Sees Countercyclical Buffer Rising on Risk – Bloomberg The Bank of England said it may begin forcing banks to set aside capital as soon as March to support lending in a downturn.
UK Banks May Face Another £40 Billion in Fines for Misconduct, Bank of England Warns – Standard The figure, which was included in the central bank’s stress test results on Tuesday, is virtually double what banks have already set aside to cover the cost of historic crimes and misdemeanours.