Comment: Intervention tightrope

Central bank officials from three of the world's most important emerging markets this week made comments to the effect that they are intervening in foreign exchange markets and could continue to do so in the future. The reasons they put forward for doing so vary greatly, but they are playing a potentially dangerous game.

COMMENT BY CENTRALBANKNET

On Tuesday, the Central Bank of Brazil revealed that it had bought dollars in the foreign exchange market for the second time in as many days. The bank

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