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| Thursday, 19 December 2013, 18:00 HKT/SGT | |
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Source: HKTDC | |
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| Video Interview with ANZ Banking Group CEO Michael Smith |
TOKYO, Dec 19, 2013 - (ACN Newswire) - Asian economic difficulties that could arise from economic tapering in the United States will be at least partly offset by strong liquidity in Japan, said Michael Smith, Chief Executive Officer of the Australia and New Zealand Banking Group Ltd.
"I think that, as we hear about tapering in the US, the effects in Asia are going to be mitigated somewhat by a continued access to liquidity from Japan," said Mr Smith, in an interview with the Hong Kong Trade Development Council (HKTDC). Mr Smith spoke ahead of his participation in the Asian Financial Forum (AFF) in Hong Kong, 13-14 January.
"The whole easing has created excess liquidity in Japan. You have the adjustment in the value of the yen," he said, adding that this "has stimulated industry in a way in Japan that I have not seen in my lifetime. I would say that is going to continue."
The Federal Reserve announced on 18 December that, starting in January, it would reduce its monthly bond-buying programme by US$10 billion a month.
Mr Smith gave a wide-ranging interview to the HKTDC on 11 December. The interview can be viewed via the link below. He discussed Chinese mainland economic reforms, Hong Kong's role as an acquisitions market, and his views on the Shanghai Free Trade Zone. The AFF is organised by the HKTDC and the Hong Kong SAR Government.
Watch this video at: http://youtu.be/74z7YoTXU9g
Contact:
HKTDC
Corporate Communication Department
Joe Kainz
Tel: +852 2584 4216
Email: joe.kainz@hktdc.org
Topic: Loans & Financing
Source: HKTDC
Sectors: Trade Shows
http://www.acnnewswire.com
From the Asia Corporate News Network
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