Bear bust led to dollar-support plans - report

The financial authorities in Frankfurt, Washington and Tokyo considered joint action to stabilise the falling dollar, a leading Japanese business newspaper has reported.

Nikkei, a newspaper, reported that officials from the US Treasury, Japan's finance ministry and the European Central Bank drew up a currency contingency plan over 15-16 March, the weekend Bear Stearns, a US investment bank, collapsed.

The joint intervention, had it happened, would have been the first for eight years; the last

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Geoeconomic reserve management

The world order is evolving. Whether, and how, the international economy remains integrated or shifts into spheres of influence has consequences for central bank policy and reserve management.

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