International financial developments

Quarterly Bulletin 1984 Q3
Published on 01 September 1984

Among the main developments:

  • The US current account deficit widened further in the first half of this year though the deficit grew only slightly in the second quarter; discrepancies in the accounts obscure the full picture of world payments.
  • Though reviving somewhat in recent months, the syndicated credits market has been subdued this year. Most of the 'spontaneous' lending has been to OECD countries.
  • Uncertainties about US withholding tax (repealed in July) discouraged activity in the international bond market for a time in the second quarter.
    Floating-rate notes continue to thrive as a source of finance (the FRN market is described in the article).
  • The strength of the dollar was a feature of foreign exchange markets. Sterling was weak against other currencies, too, at times in July, but subsequently recovered.

PDFInternational financial developments

Other Quarterly Bulletin 1984 Q3 articles

Give your feedback

Was this page useful?
Add your details...