Christopher Kent, Reserve Bank of Australia Assistant Governor (Financial Markets) is speaking this morning in Sydney.
Earlier:
Reserve Bank of Australia's Kent says Australian banks are undeniably strong
Q&A now, Headlines via Reuters:
- We were not involved in the central bank swap operation
- Banking problems are just one of many considerations for monetary policy
- Global banking system lot stronger than a decade ago
- Problems are with a few institutions that were badly mismanaged
- Impact on Australian markets have been modest
- Board will take account of financial conditions in deciding on rates
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If you are just tuning in the big news:
- Early flows into non-USD FX in early Asia after the UBS-CS deal agreed to
- Fed, BoE, BoJ, ECB SNB, BoC to coordinate action to enhance liquidity provision
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US equity index futures are loving the enhanced global USD swap lines. As they should.
ps. I posted an ES chart earlier, this is a better one showing the June contract
