Asia-Pacific
Banking and finance news from China, Japan, India, Australia, Southeast Asia, and the Pacific
Bangko Sentral ng Pilipinas Cuts Benchmark Rate to 5.50% in First Cut of 2025
The BSP reduced its target reverse repurchase rate by 25 basis points to 5.50%, its first cut of 2025 after a pause in February, with inflation having slowed to 1.8% in March, below the 2–4% target.
Reserve Bank of India Cuts Repo Rate to 6.0% and Shifts Stance to Accommodative Amid US Tariff Headwinds
The RBI cut its repo rate by 25 basis points to 6.0% and adopted an accommodative stance, signalling further easing as India confronts a 26% US tariff on its exports.
Reserve Bank of New Zealand cuts OCR to 3.50%, flags scope for further cuts as tariff risks rise
The RBNZ lowered the OCR by 25 basis points, saying higher global trade barriers weaken the outlook and that it has scope to ease further as the effect of tariff policies becomes clearer.
Correspondent banking relationships continue to decline, with the Caribbean and Pacific Islands most affected
Active correspondents fell 62.6% in Melanesia and 52.1% in the Caribbean over 2011–2022, against 19.4% in Northern America; the Pacific now has a $68 million World Bank backstop, while the Eastern Caribbean relies on AML/CFT reform.
New Zealand's RBNZ Names Christian Hawkesby Interim Governor After Orr Resignation
Christian Hawkesby has been appointed interim Governor of the Reserve Bank of New Zealand for six months, replacing Adrian Orr who resigned unexpectedly in March 2025.
APRA Imposes $1 Billion Capital Add-On and Court Enforceable Undertaking on ANZ Over Risk Failures
APRA raised ANZ's capital add-on to $1 billion and accepted a court enforceable undertaking after finding persistent non-financial risk management weaknesses.
China Issues Inaugural Sovereign RMB Green Bond Raising RMB 6bn on London Stock Exchange
China's Ministry of Finance raised RMB 6bn (USD 824m) through its inaugural sovereign RMB green bond on 2 April 2025, listed on the LSE and oversubscribed 6.9 times across two tranches.
Standard Chartered India Appoints P.D. Singh as CEO, Succeeding Zarin Daruwala
P.D. Singh became CEO of Standard Chartered India on 1 April 2025 after his appointment was announced in February, as Zarin Daruwala retired.
China to inject CNY 500 billion of special bond capital into four state-owned banks
Bank of China, China Construction Bank, Bank of Communications and Postal Savings Bank of China plan to raise CNY 520bn through share placements, with the finance ministry subscribing up to CNY 500bn.
India's RBI restores rating-based risk weights on bank loans to NBFCs as rollback takes effect
The Reserve Bank of India's reversal of its November 2023 risk-weight increase on bank loans to NBFCs took effect on 1 April 2025; a separate change moving microfinance loans off a 125 per cent risk weight applied from 25 February.
Australia's RBA Holds Cash Rate at 4.10% Amid US Tariff Uncertainty
The Reserve Bank of Australia kept its cash rate at 4.10% at its April 2025 meeting, pausing after its first cut and citing US tariffs as a source of uncertainty.
South Korea's Toss Posts First-Ever Annual Net Profit as FY2024 Revenue Reaches KRW 1.96 Trillion
Viva Republica's Toss recorded its first-ever full-year net profit in FY2024, with consolidated revenue of KRW 1,956 billion and operating profit of KRW 91 billion.