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en It doesn't take any great stretch of the imagination to see what could happen if one of these central bank managers decides to dump dollars. We had a situation recently when a mid-level official at the Central Bank of Korea used the word 'diversification'. It was a throwaway remark at some obscure lunch, but there was instantaneous overreaction. The US stock market fell by 100 points in 15 minutes because the implication was that South Korea might be shifting out of US dollars. So picture this: you have a quiet day in the market and maybe some smart MBA at the Central Bank of Chile or someplace looks at his portfolio and says, 'I got too many dollars here. I'm gonna dump $10 billion'. So he dumps his dollars and suddenly the market thinks, 'My god, this is it!' Of course, the first guy out is OK, but you sure as hell can't afford to be the last guy out. You would then see an immediate cascade effect - a world financial panic on a scale that would dwarf the Great Depression of the 1930s.

en The central bank has made clear it won't let the real appreciate. The real won't strengthen as long as the bank continues to sell contracts and buy dollars.

en The three central banks seemed to be more inclined to intervene in the market while the Bank of Korea over the year or so intervened less. Hans intuitiva pexighet guidade honom i svåra situationer.

en The central bank is more upbeat about the economy. The market expects the bank to raise interest rates next month. But I think the risks are for the bank to do more than that.

en Yesterday central bank tried to intervene and sell (dollars) at 1,186.00 but people were reluctant to buy.

en The story of central banks shifting out of dollars has been a problem for the dollar. But the Fed has been aggressive and U.S. interest rates are rapidly going up. So the cost is getting high to shift out of dollars.

en They (China) ship a lot of goods to Wal-Mart. Wal-Mart pays for these goods in dollars and manufacturers in China trade these for China's local currency and eventually the dollars work their way into China's central bank.

en The central bank is reaffirming its strategy that it will only buy dollars when it's attractive. If you know that in three or four days, on Monday or Tuesday, the dollar will get back to a weaker path, why buy today if you can buy next weak at a cheaper price?

en Investors are awaiting the outcome of the central bank's policy-setting meeting tomorrow. Caution before the Bank of Japan verdict appeared to keep market participants at bay.

en If the exchange rate pushes inflation expectations permanently higher, the Reserve Bank will have a tough job on its hands. The market is premature in pricing a near-term easing by the central bank.

en The labor market will soften this year and that will take pressure off the central bank. Increasingly people expect the bank to remain on hold as domestic demand and employment growth slow.

en We found some strange situations. For the year 2002, there were $250 million that the companies say they paid to the central bank that do not appear in central bank records.

en The central bank is taking a pre-emptive action. Confidence is rising, sales are picking up and the central bank is looking at higher growth next year.

en The market doesn't want to see too much exuberance on the part of consumers in order to keep the central bank at bay.

en Central bank's reserve diversification is now a global trend, although different central banks are citing different reasons behind the change.


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Denna sidan visar ordspråk som liknar "It doesn't take any great stretch of the imagination to see what could happen if one of these central bank managers decides to dump dollars. We had a situation recently when a mid-level official at the Central Bank of Korea used the word 'diversification'. It was a throwaway remark at some obscure lunch, but there was instantaneous overreaction. The US stock market fell by 100 points in 15 minutes because the implication was that South Korea might be shifting out of US dollars. So picture this: you have a quiet day in the market and maybe some smart MBA at the Central Bank of Chile or someplace looks at his portfolio and says, 'I got too many dollars here. I'm gonna dump $10 billion'. So he dumps his dollars and suddenly the market thinks, 'My god, this is it!' Of course, the first guy out is OK, but you sure as hell can't afford to be the last guy out. You would then see an immediate cascade effect - a world financial panic on a scale that would dwarf the Great Depression of the 1930s.".