Central bankers meet in Bali to discuss Brexit impacts

The discussion is part of the annual Executives’ Meeting of Asia Pacific Central Banks (EMEAP), to be held today, featuring as speakers Federal Reserve Bank of New York president William C. Dudley and Reserve Bank of India Governor Raghuram Rajan.

The 11 EMEAP members are Australia, China, Hong Kong, Indonesia, Japan, Malaysia, New Zealand, the Philippines, Singapore, South Korea and Thailand.

“This is an annual executives meeting, founded by 11 central banks in the Asia Pacific. Indonesia first held the meeting in 2005, and now after 11 years we are the host country once more,” said International Department Bank of Indonesia executive director Aida S. Budiman in Bali on Saturday.

 

Issues to be addressed at the meeting include ways of boosting the over the counter (OTC) derivatives market, assessment of the global and regional monetary situation, monetary surveillance and the impacts of Brexit.

 

On the sidelines of the meeting, Dudley and Rajan are set to deliver their remarks on "pursuing growth objectives after the crisis", such as the impending factors that might hamper the global economic recovery, sustainable economic growth and small open economies.

 

No binding agreement will be reached at the meeting, Aida further explained, as EMEAP is only a working group.