Y2K liquidity fears help to spur rise in interest rates

Article Abstract:

The coming of the year 2000 has resulted in an increase in the prevailing interest rates in Asia. Banks expect that the demand for cash will increase just prior to Jan 1, 2000, due to fears by customers that the date change will result in the malfunctioning of bank computers. That expectation has been translated by money-market dealers into higher interest rates as Asian financial institutions begin to build their cash inventory with the approach of the new millenium.

United States, Commercial Banks, Commercial Banking, Government regulation (cont), Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Banking Regulation, Methods, Economic aspects, Financial planning, Year 2000 transition (Computers), Interest rates, Asia, Financial institutions, Banking law, Loan brokers, Money market, Money markets

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Hong Kong trade balance improved in September

Article Abstract:

The trade balance in Hong Kong improved during Sep. 1996, with exports exceeding imports by $594.9 million. Imports decreased by 0.2% to HK$130.69 billion and exports of locally-made goods dropped 14% to HK$18.26 billion. The trade deficit for the first three qtrs. of 1996 dropped to HK$102.14 billion from HK$114.02 billion during 1995. Economists stress that the surplus of services in Hong Kong is large enough to cut down the trade deficit.

Merchandise Trade Balance, International trade, Statistics, Balance of trade

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Rate policy gets new base in Hong Kong

Article Abstract:

Hong Kong monetary authorities have adopted the US federal-funds rate as the standard to be followed in rate changes. This decision is expected to provide stability to Hong Kong's dollar deposits as it will serve as an incentive for owners of such capital to stick it out in the country. Furthermore, it will ensure that the exchange rate between the Hong Kong dollar and the US dollar moves on a more rational level.

Economic Programs, Administration of Economic Programs, Economic policy, Monetary policy, Federal funds market (United States)

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