Bankless · What Is Bitcoin Telling Us? | Michael Howell, Macro Analyst
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introduced "reserve management purchases" (RMP) to boost bank reserves after a liquidity fallout
“They've introduced a new acronym called Reserve Management Purchases. And those extra is another form of QE. But that's another injection of liquidity back into the system to make sure the bank reserves stay flat.”
“The Reserve Bank of India has intervened heavily to support the rupee via dollar sales from its reserves, and the rupee which fell to near record lows earlier this month has bounced back by about 2 percent following the Reserve Bank's moves.”
“Introduction of a new China central bank-type tool requiring banks to set aside cash with the Reserve Bank of India for some foreign exchange transactions”
“If we need a sovereign development bank for that, that works like the Reserve Bank, we might have to contemplate that.”
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