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Stock market strength will be underpinned indirectly this year if Asian central banks with surging foreign reserves maintain their voracious appetite for government bonds, analysts say.
SEOUL: There has been no sign of any Asian central bank selling out of South Korea's domestic bond markets, a South Korean finance ministry official told Reuters on Thursday, despite concerns the recent markets turmoil could lead to heavy selling.
SINGAPORE: Asian central banks moved aggressively on Saturday (March 14) to counter the market carnage on Friday, pumping liquidity into the financial system and discussing emergency action to fight the global economy’s biggest threat since the financial crisis.
PETALING JAYA: Central banks in Asia, including Bank Negara, may halt further interest rate hikes on expectation that the global economic growth may slow down.
THE dilemma facing Asian central banks is the ability to adapt to the risk of normalisation of monetary policy in advanced economies, in particular the United States. Years of expansionary monetary policy in the US, with policy rates at almost zero, low long-term interest rates and expansionary balance sheet of the US Federal Reserve Bank, has reinforced a puzzling trend, the secular decline in real long term interest rates.
SINGAPORE: Recent moves by Asian central banks to raise interest rates are a strong vote of confidence that the region will weather risks stemming from the European debt crisis, analysts say.
SINGAPORE/JAKARTA: Southeast Asian central banks are in talks to overhaul the way reference rates for offshore currency derivatives are set following investigations by banks in Singapore that found traders in the city-state tried to manipulate the market, the president of Indonesia's foreign exchange industry group said.