86 Results for:

July 18, 2005

China
If your reserves are growing by $300 billion a year

China indicated its reserves have increased to $711 billion at the end of June -- up $101 billion from the end of December 2004. Actually, they are up more than that. China transferred $15 billion …

September 16, 2005

Economics
Happy (late) blog birthday

It has been a bit over a year since I started doing this.   I did not anticipate the blog would generate half the audience it has.   I often have focused on relatively obscure topics: the global bala…

November 16, 2006

United States
Wrong about 2006. Right about 2007? Or 2008?

I don’t think that Nouriel Roubini and I ever argued Bretton Woods 2 – an international monetary system based on central bank financing of the US deficit -- would absolutely collapse by the end of 20…

December 6, 2006

China
Yu Yongding is well-worth reading on sterilization — as is the Bank of New York on plans for a goverment investment fund

Martin Wolf’s series of columns on China has stimulated quite an interesting debate. I have been meaning to highlight it for some time – especially since it prompted Yu Yongding to lay out both his t…

December 11, 2006

Financial Markets
The GCC’s dollar peg …

China will have a current account surplus of over $200b this year.  China has about 1.3 billion people.   The GCC countries (Saudi Arabia and the small states on the Gulf) will also have a current ac…

January 11, 2007

Financial Markets
Cracks in the GCC’s commitment to the dollar peg?

From Simon Derrick of the Bank of New York. Reuters reports that central bank governors of the UAE will meet in March to discuss currency pegs. The agency cites Governor Sultan Nasser al-Suweidi wh…

February 27, 2007

Financial Markets
The story changes … is volatility back?

I was gearing up to write about how volatility in the fx market had disappeared – something that Simon Derrick ably highlighted on Monday.   Even though the yen is very, very weak against the currenc…

March 12, 2007

China
Just what is in China’s portfolio? And do foreign central banks think Agencies are Treasuries?

China's decision to set up a new investment authority with a mandate to invest in a range of assets -- not just traditional reserve assets -- has attracted a lot of attention.  But as the Bank of…

March 20, 2007

China
$1.5 trillion, not $1.1 trillion - and rising fast

China's formal reserves were a bit under $1.1 trillion – think $1.066 trillion – at the end of last year.  No doubt they are close to $1.1 trillion, if not above it, now.    No wonder China’s cen…

May 5, 2007

Monetary Policy
Another month, another $10b (or more)

The $10b a month club came through in April. Brazil’s reserves: up $12.3b in April. Bacen also did a $3b reverse currency swap – its largest ever – last week.   It isn’t just intervening in the spot …