Surprise! Asia's Central Banks Still Have the X-Factor
- China and Singapore top Asia's central bank surprise list
- Better transparency doesn't necessarily mean no surprises
A man rides a bicycle past the People's Bank Of China (PBOC) headquarters in Beijing, China
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
When Janet Yellen pulls the trigger on a rate hike, markets usually take the decision in their stride. That's because Federal Reserve officials will have publicly debated and flagged the change for months in advance.
In Asia, things are different. Central banks in the region often surprise markets with their policy decisions, with the People's Bank of China and the Monetary Authority of Singapore leading the list of head turners, according to a review of policy decisions since 2010 by Bloomberg Intelligence.