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HIGHLIGHTS-Central banker comments at BIS meeting in Basel

Mon Sep 8, 2008 2:55am EDT
 
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BASEL, Sept 8 (Reuters) - The U.S. government's move to seize control of two mortgage finance firms has clambered on to the agenda of central bankers from key industrialised and emerging countries meeting at the Bank for International Settlements in Basel to discuss the global economic outlook.

Below are highlights of the central bankers' comments:

PEOPLE'S BANK OF CHINA GOVERNOR ZHOU XIAOCHUAN

"We are reading and studying the new policy but I guess that different people may have different responses. From my point of view I think this is positive.

"From the investment side, certainly Chinese investors have a certain amount of exposure. In their opinion, I think they welcome the new policy but we still need time to have a further study." --------------------------------------------------------------

SUNDAY'S COMMENTS:

HONG KONG MONETARY AUTHORITY CHIEF EXECUTIVE, JOSEPH YAM

"As investors in debt issued by the two GSEs, we of course welcome the measures."

"It should have a useful, tranquillising effect on the very stressful market.

"The continued stress in the largest financial market in the world, I think, has serious implications for the rest of the world in particular for emerging markets although it is very difficult to be precise on how the contagion might work.

"So these measures therefore are very comforting ones on a global dimension."

THAILAND'S DEPUTY CENTRAL BANK GOVERNOR, ATCHANA WAIQUAMDEE

Asked whether Thailand would intervene in the market if the currency dropped further, Atchana told reporters: "Our exchange rate hasn't been changed. We don't have any target, for the exchange rate level, but when it's very volatile, the central bank may step in.  Continued...

 
A customer looks at televisions for sale at a store which buys and sells second-hand items in Madrid October 9, 2008. REUTERS/Andrea Comas
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