Bank of England swap line expected to fuel RMB growth


The decision by the Bank of England to open discussions to create a reciprocal three-year currency swap line with the People's Bank of China (PBoC) has been widely welcomed as an important step to increase liquidity in offshore renminbi trading.

Following a meeting between Bank of England governor Mervyn King and PBoC governor Zhou Xiaochuan in Beijing on February 22, the two central banks hope to sign a final agreement shortly, having stated the arrangement will be used to "finance trade and

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here:

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: