v3 Chapter 1357： Bank of Australia

"Immediately put out 3 billion U.S. dollars into the market to stabilize the exchange rate!"

"Then release an announcement to boost market confidence."

Jack Stuff was able to serve as the governor of the Bank of Australia, and his ability was only stronger than Eric Archie, and he immediately issued the order.

Eric Archie lifted his spirits and was immediately executed.

With the rapid entry of the Reserve Bank of Australia's US$3 billion in foreign exchange reserves, the Australian dollar exchange rate stopped falling, and even tended to rise after the shock.

Seeing this, the bulls immediately supported the Bank of Australia.

"President, the situation is not very optimistic, our foreign exchange reserves are insufficient, and we should find a solution as soon as possible."

Eric Archie said worriedly.

The latest U.S. dollar foreign exchange reserves of the Bank of Australia have decreased compared to before, at $6.71 billion.

Now that three billion U.S. dollars are put into the market at once, only 3.71 billion U.S. dollars in foreign exchange reserves are left.

Judging by the intensity of the war that broke out in the Canadian foreign exchange market last year, such a small amount of US dollar foreign exchange is far less than that of Canada at the time, and it is difficult to stop short-term attacks.

What's more, the shorts this time are the ones whose strength has been strengthened after the Canadian foreign exchange war!

"I know that when we have a meeting, we will discuss countermeasures. For now, we can hold on to it for now."

Jack Staf said with a sullen face, his eyes very solemn.

Soon, the two hurriedly left the exchange rate department and came to the conference room.

When they arrived, all the top executives at the headquarters were in place, and those who asked for leave for business trips were fine.

After taking a seat at the main seat, Jack Staf immediately said with a serious look: "Just now, the short positions led by Bridgewater Fund and Tiger Fund of the United States were selling Australian dollars on a large scale in an attempt to repeat the disaster in the Canadian financial market last year. "

"This is the biggest crisis we have encountered since the Australian dollar exchange rate was able to float freely in December 1983. This test is related to the security of our country's financial market."

"I just came back from the Exchange Rate Department. Just now I have directly approved 3 billion US dollars of foreign exchange reserves to enter the market to stabilize the Australian dollar exchange rate."

"The purpose of calling you here is to brainstorm and discuss countermeasures together to defeat those financial robbers!"

As soon as the voice fell, the high-level people sitting there suddenly began to discuss.

Someone suggested: "President, with our current US dollar foreign exchange reserves, it will definitely be difficult to stay behind. I suggest immediately dumping the British pound, Japanese yen and other foreign currencies and converting them into US dollars!"

"I agree that if all these foreign exchanges are exchanged, they should be able to raise more than four billion U.S. dollars!"

"I agree."

Jack Staff did not express his position, but he quickly recorded it with a pen. Obviously he agreed with this opinion.

An executive commented: "I do not recommend that funds enter the market immediately. The exchange rate should be lowered to around 0.90, and then a large amount of funds should be entered into the market to save our capital costs and also have more room for maneuver."

The only response to this executive was Jack Staf’s cold eyes. He just ordered to invest 3 billion US dollars into the market to buy Australian dollars. Does this executive have no ears or no brains!

"I object. The bears must be tentatively attacking at first. They are investigating our attitude. Even if we show some weakness, we will be infinitely amplified. Then, we will have greater troubles."

"I think we must resolutely fight back to stabilize market sentiment and investor mentality."

…

Others have also expressed their opinions one after another. On this issue, the majority believe that the firm will fight back.

Jack Staff didn’t want to waste time here. He slapped the table and said: “Well, this question is skipped and we must resolutely fight back. Our weakness will bring a huge risk. This risk should not be taken!”

"Next suggestion!"

After Jack Staff made the decision, the executives who had made such comments kept silent, thinking about other ways.

At this time, the Director of the Exchange Rate Department Eric Archie suggested: "President, I suggest raising short-term interest rates, increasing institutional borrowing costs, using policy means to show our attitude, scaring the shorts, and cutting off some of their funding sources. ."

"The current loan interest rate is 14.745%. I suggest raising it to more than 20%."

Compared to raising US dollar and foreign exchange defense, this interest rate adjustment policy is somewhat similar to the strategy of drawing salaries from the bottom, although it can only have an effect on some institutions.

But at this time, it can weaken the future strength of the bears and make some bears stay away, even if they succeed.

Another more aggressive executive expressed his supportive attitude: "I suggest that you mention more than 30%, and be more aggressive, to make our attitude clearer."

But someone immediately stood up and objected: "I object, such a high interest rate will have a huge negative impact on the domestic economy, and the problem of bad debts of banks and enterprises will be exposed. This side effect is too great."

"Once we do not resolve this crisis in a short period of time, then our domestic financial market will have a crisis, and both internal and external crises will erupt together. The problem is too big!"

"At that time, we will have to lower the loan interest rate. Once it is lowered, it will be a surrender to short positions, and international hot money will lose the last awe."

"I support raising the short-term loan interest rate, but it cannot be too high. It is enough to raise it to between 20% and 23%. It is not a last resort and cannot exceed 23%!"

…

Around this countermeasure, everyone at UU Reading is constantly arguing, trying to persuade each other, but also constantly being persuaded.

Finally reached an agreement that interest rate leverage can be used, but short-term borrowing rates increased by one-third, from 14.745% to 22.117%.

At the same time, keep the attitude of continuing to raise interest rates later, whether you want to use it or not, it depends on the situation.

After discussing two suitable measures, everyone immediately discussed the next measure.

The previous two measures were to raise US dollars and foreign exchange to strengthen itself, and the other was to raise short-term loan interest rates to weaken the enemy.

But if you want to survive this crisis, the key is to have enough confidence.

Those who can give confidence are naturally enough pockets!

"I suggest immediately borrowing from other countries and the World Bank, especially the United Kingdom and New Zealand. The United Kingdom is our sovereign country. The breach of our financial market will have a huge impact on the pound system. A large amount of British capital investment in our Australia will depreciate. ."

"New Zealand has a high rate of integration with our financial markets. Once we are unlucky, New Zealand will definitely be affected. For this reason, we let the government persuade New Zealand to intervene in the Australian dollar spot market and stabilize the Australian dollar exchange rate."

"I also agree that we must borrow at least 15 billion U.S. dollars in funds, otherwise it will be difficult to resist short-term attacks, and the speed must be absolutely fast, publicity must be in place, and the short-term players will retreat when they are difficult.

"..."

PS: The second one is a little bit late, my back hurts, go to bed, good night everyone

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