BIS urges watch on Asian balance sheets

AUSTRALIA - The Bank for International Settlements said today, 24 July, more attention should be paid to the balance sheet independence of central banks in Asia.

In a discussion paper for the Reserve Bank of Australia's annual conference in Sydney, BIS official Robert McCauley said progress had been made in Indonesia and South Korea since the events of the Asian crisis.

"More attention should be paid to the balance-sheet independence of central banks," McCauley said in a paper on setting monetary

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