Asia
Malaysia’s Zeti encourages cross-border collaboration
Zeti Akhtar Aziz promotes the need for cooperation in achieving financial stability; outlines positive impact of this approach in Asia
Bank of Finland paper examines reasons for business cycle co-movement
Discussion paper suggests thinking of growth performance of economies as ‘coupled’ or ‘de-coupled’ is overly simplistic; identifies a number of factors contributing to interdependence
Cambodian governor highlights divergence in developing financial systems
Chea Chanto sets out ways in which South-east Asian central banks’ financial and banking systems differ; calls for regional development to catch up with international standards
Bollard sets out vision of ‘new world’ economy
Governor of the Reserve Bank of New Zealand warns shift of global economy in favour of emerging Asia brings both risks and benefits; says attitudes towards debt have become more cautious
IMF paper finds changing resilience of emerging markets to financial shocks
Working paper assesses net change in ability of emerging markets to absorb financial shocks; says improved economic fundamentals are offset by vulnerabilities due to inflexible exchange rates
BoJ deputy governor highlights benefits of financial co-operation
Kiyohiko Nishimura emphasises positive results of co-ordinated macro-prudential policy action in Asia; says links between Latin America and Asia are also important
ADB economist moots idea of common currency in Asia
Principal economist at Asian Development Bank says common currency possible in ‘long run’; panellists outline possibilities for greater Asian economic integration
Asian central bank reserves surpass optimal levels, says IMF’s Zavadjil
Reserves held by Asian central banks are rising past optimal levels even if cover for longer-term foreign fund and FDI ouflows are added to import and short-term debt coverage metrics, says IMF expert
IMF’s Lagarde warns on global growth
Managing director says next week’s assessment of world economy will bring bad news with regard to growth; urges increased co-operation to renew economic recovery
BoJ deputy governor urges EU to accelerate reform efforts
Bank of Japan deputy governor Hirohide Yamaguchi calls on EU to speed up efforts in tackling debt problems; says Asia must prepare for further shocks
Malaysia’s Zeti considers economic challenges facing Asia
Zeti Akhtar Aziz examines impact of global spillovers on Asian countries; says greater regional cohesiveness and co-operation have boosted region’s potential to overcome difficulties
HKMA unveils new phase of cross-border settlement platform
Hong Kong and Malaysian central banks to add cross-border collateral management service to settlement platform to promote growth in 'underdeveloped' Asian repo markets
HSBC chief identifies four steps to resolve ‘emerging markets’ crisis in Europe
HSBC chief executive Stuart Gulliver believes a European ‘tarp’ plus issuance of eurobonds needed to keep eurozone intact; says Spain and Greece failed to learn lessons from Asian crisis
Basel III may kill trade finance in Asia, says StanChart banker
Asian banks providing trade finance services will struggle to meet Basel III rules on leverage ratios, senior Standard Chartered banker tells Asean Risk 2012 conference
BoJ’s Shirai debates how to strengthen growth momentum
Member of Bank of Japan policy board says the country should improve economic relations with emerging Asia in terms of trade and tourism and also through cross-border financial transactions
Bangladesh bank governor discusses macro-prudential reforms
Atiur Rahman gives overview of progress in Bangladesh and says reforms are progressing well in South Asian Association for Regional Cooperation region
IMF paper studies credit growth in the Philippines
Research analyses determinants of credit growth and interest margins in the Philippines and Asia; finds factors such as higher growth and lower inflation reduce net interest margins
Asia regional FSB discusses deleveraging in Europe
Financial Stability Board Regional Consultative Group for Asia focuses on problems arising due to deleveraging of European financial institutions; also share thoughts on recent FSB initiatives
MAS assistant managing director discusses importance of market research
Jacqueline Loh highlights benefits of increased financial research for Asian economies; says risks associated with investing in Asia can be mitigated by enhanced information-gathering
Research calls for reduction in trade barriers between Asia and Latin America
Joint research by Asian Development Bank and Inter-American Development Bank calls for barriers to trade to be reduced between regions
Zeti outlines key factors in ensuring sustainable growth in Asia
Zeti Akhtar Aziz discusses factors important in ensuring sustainable growth and stability in Asia
Asian central banks urged to keep interest rates on hold
Chief economist of the Asian Development Bank urges caution from policy-makers regarding interest rates; says impact of eurozone bank deleveraging already incorporated into ADB’s growth forecasts
RBA fears downturn in Asia due to euro area contagion
Reserve Bank of Australia expresses fears about potential contagion from Europe hitting export markets in Asia
ADB’s Kuroda says governance and supervision reform needed in Asia
Haruhiko Kuroda believes improvements in governance and regulatory reform are needed to enhance Asia’s future growth prospects