HKMA's Yam on the euro: A stabilising factor

In the speech 'The euro: a stabilising factor of the International Monetary System. Can the euro be a benchmark for Asian monetary co-operation?' given on 21 March Joseph Yam of the Hong Kong Monetary Authority said Asian central banks should not rush to raise euro holdings at the expense of the U.S. currency.

"The euro may become so popular in this region, it may undermine the stability of international finance," Yam told a meeting of business executives in Hong Kong. Asian central banks may

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