Diversification needed for Asian central banks
NEWS
He said failure to act could cost the central banks up to $28 billion per year – reason enough to buy more yen and euros. "It appears that recent trends of slowing overall accumulation and diversification into more risky asset classes is likely to continue," he said.
Stolper added that there are two dominant reasons why central banks have to hold assets for immediate availability. "Above all, the central bank needs ammunition for intervention purposes," he said. "But FX reserves are also
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