Yuan Rises Most Since 2005 as PBOC Mulls Easing Capital Controls – Bloomberg The yuan surged the most since China scrapped a dollar peg in 2005 as the central bank said it will consider a trial program in the Shanghai free trade zone allowing domestic individual investors to directly buy overseas assets.
Obama Wins Debt-Limit, Budget Truce Through End of Presidency – Reuters President Barack Obama won passage by the Congress early on Friday of legislation that lifted the threat of a default on government debt through the end of his presidency.
More Pain, Slow Gain as Europe’s New Bank CEOs Expect Grim Years – Bloomberg Europe’s biggest investment banks are telling investors that it will take years for their overhauls to bear fruit.
BOJ Holds Rates Despite Overseas Headwinds, Stagnant Inflation – Reuters The Bank of Japan held off on expanding its massive stimulus program on Friday, preferring to preserve its dwindling policy options in the hope that the economy can overcome the drag from China’s slowdown without additional monetary support.
UK Rate Rise Could Come Sooner Rather Than Later – Wall Street Journal (subscription) Several money managers expect Britain’s robust economy will prompt BOE action earlier in 2016.
Germany’s China Courtship Advances with Deutsche Boerse Venture – Bloomberg As German Chancellor Angela Merkel seeks deeper economic ties with China, Deutsche Boerse AG announced a new venture intended to strengthen financial links between the two countries.
Swiss National Bank Records Nine-Month Loss – Wall Street Journal (subscription) Third-quarter profit is insufficient to offset first-half loss, weighed by currency effects.