Asia
New Zealand hosts EMEAP central bank governors
Central bank governors from major countries in the region gathered in New Zealand over the weekend to discuss common issues, Reserve Bank of New Zealand governor Alan Bollard said Monday 29 May.
Bank of Canada Review, Spring 2006
The Bank of Canada published its Review for Spring 2006 on 25 May. The Review includes the article 'Global imbalances - Just how dangerous?' which provides a guide to the major issues and controversies involved in the debate.
Knight on Asia, the dollar & global imbalances
In the speech 'Asia, the US dollar and global imbalances' given on 18 May Malcolm Knight of the BIS said global imbalances in current account deficits and budget deficits are "not sustainable".
MAS says common Asian currency unlikely soon
A top official from the Monetary Authority of Singapore has said that the establishment of a common Asian currency is unlikely to be realised in the near term.
FX reserves, US deficits and global imbalances
This article published Thursday 11 May provides detailed information on foreign reserve holdings. Global reserves continue to mount this year, it says, amid renewed downward pressure on the U.S. dollar and a fresh rise in oil prices.
Asia's savings glut keeps its bond markets tiny
According to this article published Wednesday 10 May, it is a puzzle why global investors hold almost no debt denominated in Asian currencies when they snap up fixed-income securities that pay in Uruguayan pesos or Brazilian reais.
IMF says China to benefit from yuan appreciation
China's economy will benefit from a government decision to allow greater exchange rate flexibility for the yuan, according to an IMF economist.
Asia is getting ready to dump the dollar peg
According to this article published Monday 8 May, even as they continue to pile up U.S. debt in their foreign exchange reserves to keep their currencies stable against the dollar, Asian nations are preparing for a scenario where the dollar collapses…
An Asian monetary union?
This Working Paper from The Australian National University, published April 2006, empirically examines whether a group of 12 Asian countries is suitable to form an Asian Monetary Union (AMU).
ADB says growth depends on oil price fall
The Asian Development Bank has said the rapid growth of the region's economies may only be sustained if there is a decline in global oil prices.
Fed's pause may send Asian currencies higher
With Federal Reserve chairman Ben Bernanke signalling a pause in U.S. interest-rate increases, the spotlight is once again on Asia, according to this article published on Tuesday 2 May.
Interview with IMF's Wanda Tseng
Wanda Tseng, deputy director at the IMF's Asia and Pacific department, said on Tuesday 2 May that China's decision to raise interest rates for the first time in 18 months is welcome but the country needs to let its currency move more freely.
No Nixon moment on China's currency
According to this article published on Friday 21 April, for the second time in less than a year Asia's No. 2 economy outmaneuvered the world's biggest on the yuan.
Interview with ADB's Kuroda
In an interview published on Sunday 9 April, the President of the Asian Development Bank Haruhiko Kuroda said Asian countries, including China, already have ample foreign exchange reserves and there is no need for them to accumulate more.
Comment: The IMF's challenge
Raghuram Rajan, the IMF's economic counsellor and director of research, said in a speech Monday 10 April at the Kiel Institute that "as the reserves of advanced emerging markets fall, they may well want to re-engage with the Fund". Behind these remarks…
Euro disaster a salutary lesson in what not to do
According to this recent article, the idea of a single currency area for countries like China, Japan, and Korea has certain obvious appeal. However, it is a big stretch to assume that a single currency union is either the best way for them to reap those…
As rates rise, Asia's risky markets get riskier
The appetite for riskier Asian assets is strong, according to this article published Thursday 23 March, but rising interest rates raise the chance of investors dumping some of these assets and if sentiment turns suddenly, local markets could be…
Inflation targeting arrangements in Asia
The SCAPE Working Paper "Inflation targeting arrangements in Asia: Exploring the role of the exchange rate" presents an analysis of some of the issues relevant to Asian central banks implementing an inflation targeting arrangement with specific focus on…
ECB warns on further Asian reserves build-up
The ECB said in a paper published Wednesday 8 March that a further build-up of foreign exchange reserves in Asia could lead to problems such as inflation pressures and asset price bubbles.
Fisher on Asia, trade deficits and the US economy
In the speech 'Asia, trade deficits and the health of the U.S. economy' given on 23 February Richard Fisher of the Federal Reserve Bank of Dallas said the U.S. economy is poised to grow by more than 4 percent at an annual rate in the current quarter…
HKMA's Yam on the euro
In the speech 'The euro: Lessons for European and Asian financial markets' given on 24 February Joseph Yam of the HKMA said the integration of financial markets in the Asia-Pacific region can be accelerated if financial and monetary authorities in the…
EurAsEC central bankers meet in Belarus
The XIVth session of EurAsEC Council of the heads of central banks was held in Minsk on Monday 27 February.
Thailand's Devakula: Central Banker of the Year
In a speech at the award for Central Banker of the Year - Asia 2006 given on 1 February M R Pridiyathorn Devakula of the Bank of Thailand said in a country where the functioning of financial market mechanism is not fully efficient, there is an important…
Reservations about reserves
According to this article published on Sunday19 February, a race is unfolding in Asia involving currency reserves. The favourite in this game of monetary one-upmanship is China, it says.