Concerns mount over reserve increases
NEWS
The survey of 47 central banks found that two thirds of respondents expect to see reserve levels to reach between $6.2 trillion and $8.2 trillion by 2010. This confirmed widespread belief among central banks that global reserves will continue to rise.
"The pace of reserve accumulation seen recently has been running at nearly $700 billion a year," said Ian Stannard, senior currency strategist for BNP Paribas in London. He added that Asia alone contributes $380 billion a year to this figure.
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