Greenspan rät Asiaten von Dollarkäufen ab

verfasst von kingsolomon, 15.06.2004, 19:04

-->WASHINGTON (Dow Jones)--Federal Reserve Chairman Alan Greenspan said Tuesday that foreign central banks risk destabilizing their own economies if they persist too long in buying dollars to hold down the value of domestic currency.

Testifying before the Senate Banking Committee, Greenspan said that one leading Asian central bank - Japan's - halted the practice in mid-March and hasn't resumed it. But China, which pegs its currency to the U.S. dollar, has continued to buy dollars to ensure the Chinese yuan, also known as the renminbi, doesn't move outside a narrow band.

"It's not to the advantage of foreign central banks to accumulate very large amounts of foreign currency after a certain point, because it creates domestic problems of monetary stability," Greenspan said. He was speaking at a hearing on his nomination to serve a fifth term as Fed chairman.

"The issue is most relevant in regard to China, because they are acutely aware of the fact that their stabilization of the renminbi versus the dollar has required the accumulation of very large dollar assets on the balance sheets of the central bank," Greenspan said. That, he said, increases the difficulty the central bank has in controlling inflation.

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gesamter Thread:

• Greenspan rät Asiaten von Dollarkäufen ab - kingsolomon, 15.06.2004, 19:04
  • Re: verstehe ich nicht - Theo Stuss, 15.06.2004, 21:59
    • Re: verstehe ich nicht / Klasse Theo, a MUST READ!! (o.Text) - ---Elli---, 15.06.2004, 22:41
      • Klasse Theo, a MUST READ!! - ok, Vollzugsmeldung, gelesen (o.Text) - rocca, 15.06.2004, 23:13