Changes in the policy rate in the US have exerted a "significant" impact on those in a host of other emerging market and advanced economies since the turn of the millennium, according to research published by the Bank for International Settlements (BIS) on September 12.
The article, released as part of the BIS quarterly review, finds a 100 basis point change in the federal funds rate is associated with a move of between 26bp and 46bp in the policy rates of a sample of 30 other countries,
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