Asia-Pacific
Asian central bankers affecting markets
The dollar's nearlythree-year decline has led many central banks to consider diversifying into other types of money, especially in the face of a more valuable euro. According to this article, the reaction to recent comments from South Korea serves as a…
Foreign reserves, Asia's problem of plenty
The dilemma facing many of emerging Asia's economies over how best to use their massive stock of dollar reserves is hardly new, this article says, but some economists suggest spending central bank reserves on domestic projects, rather than leaving them…
ASEAN currency swap deal extended
Central bankers from the Association of Southeast Asian Nations signed an agreement on Thursday 24 February to extend until 2006 a currency swap deal intended to help ASEAN members experiencing international liquidity problems.
Interview: Alexander Swoboda
Governments, not central banks, hold the future of the world economy in their hands. Without action, preferably coordinated, on both sides of the Atlantic and in Asia, the outlook is grim says Alexander Swoboda.
IMF's Krueger on reforming economies
In a speech on 'Shared experience: What reforming economies have in common' given on 14 January, Anne Krueger of the IMF said India should tread a cautious path as far as infrastructure spending is concerned, since too much spending can trigger high…
Statement by IMF's Rato at ASEAN Leaders' Meeting
Rodrigo de Rato, Managing Director of the International Monetary Fund (IMF), issued the following statement on Thursday 6 January at the high-level meeting on humanitarian relief for countries affected by the Asia tsunami disaster in Jakarta, Indonesia.
Statement by IMF's Rato ahead of Jakarta meeting
Rodrigo de Rato, Managing Director of the International Monetary Fund (IMF), issued the following statement on Wednesday 5 January after arriving in Jakarta, Indonesia, for a high-level meeting on humanitarian relief for countries affected by the Asia…
RBI's Reddy says tsunami will impact on deficit
Speaking on Thursday 6 January, Reserve Bank of India Governor YV Reddy said that while the recent tsunami would only have a limited economic impact, it would put some upward pressure on the fiscal deficit.
G8 plan Asia debt relief
The world's richest nations are likely to agree to freeze debt repayments for nations devastated by the Indian Ocean tsunami, according to Britain's treasury chief Gordon Brown.
BIS to administer EMEAP's investments in ABF2
The EMEAP (Executives' Meeting of East Asia and Pacific Central Banks) Group, comprising 11 central banks and monetary authorities in the East Asia and Pacific region,1 announced on Thursday 16 December the launch of ABF2, the second stage of the Asian…
EMEAP central banks announce launch of the ABF2
The EMEAP (Executives' Meeting of East Asia and Pacific Central Banks) Group comprising 11 central banks and monetary authorities in the East Asia and Pacific region announced the launch of the second stage of the Asian Bond Fund (ABF2) on Thursday 16…
Asian central banks on the horns of policy dilemma
These are tricky times for Asian central banks, this article reports. With semi-public wranglings between central banks and finance ministries, this is one of the least predictable environments for policy forecasting since the 1997-98 Asian financial…
Pakistan's Husain on South Asian economies
In a speech on 'Future challenges facing South Asian economies' given on 26 August, Ishrat Husain of the State Bank of Pakistan said South Asian countries have undergone remarkable improvement in their economic landscape during the last ten years or so…
What's missing at Asian central banks? Credibility
This article argues that Asia lacks a central banker with the clout enjoyed by the Federal Reserve chairman or the ECB president. This lack of credibility exists because of their aggressive manipulation of currency rates, their spotty histories of…
Gentlemen prefer bonds
Nick Carver looks at one way Asian central banks could boost local debt markets.
Trichet confident Asian growth remains on track
ECB chief Jean-Claude Trichet was in Singapore on Friday 16 July for a meeting with East Asia-Pacific central bank governors. Trichet said he is confident that the global interest rate environment remains benign and regional growth, led by China, is…
Asian central banks see increasing role for euro
This article looks at the growing trend of Asian central banks shifting part of their assets into euros, though the US$ remains the major reserve currency, it says.
ADB meeting hears single currency decades away
The Asian Development Bank (ADB) annual meeting heard on Friday 14 May that East Asia's dream of a European Union-style single currency remains decades away, although initial steps have been taken towards regional economic and financial integration.
Padoa-Schioppa on financial markets in Asia
In a speech on 'The role of financial markets in sustaining economic growth in Asia' given on 20 April, Tommaso Padoa-Schioppa of the ECB said if it is to be expected that exchange rate flexibility is the long-term outcome of the growth process currently…
EMEAP central banks announce structure of ABF2
The EMEAP (Executives' Meeting of East Asia and Pacific Central Banks) Group announced the initial structure of the Asian Bond Fund 2 on 15 April.
Canada's Jenkins on Asia and the Global Economy
In a speech on 'Asia and the Global Economy' given on 30 March, Paul Jenkins of the Bank of Canada explores the issues arising from the growing importance of Asian emerging-market economies, notably China and India, in the global economy.
Launching the Asian bond
Despite huge demands for bonds, Asia's debt markets remain nationally focused. Anthony Rowley reports from Tokyo on central-bank led initiatives to launch two Asian bond funds.
Fukui on the Japanese economy and Asia
In a speech on 'The Japanese Economy and Asia' given on 26 September, Toshihiko Fukui of the Bank of Japan said there is an increasing probability that the Bank's standard scenario released in April, a virtuous cycle of recovery in which an increase in…
Look to Asia, urges RBA chief
Reserve Bank of Australia governor Ian Macfarlane has said that itsi time to look again at Asia's place in the economic future of Australia, ABC News reports.. Delivering a lecture in Sydney, he said that now the dust of the Asian crisis had largely…