BIS on Globalisation and mon. policy independence

The BIS Paper "Has globalisation reduced monetary policy independence?" published 6 June says growing global financial integration has influenced monetary policy in important ways. Recent developments have shown, however, that, while many countries have adopted more flexible exchange rate regimes, they often intervene to dampen exchange rate movements, it says.

Click here to read the Paper "Has globalisation reduced monetary policy independence?" on the BIS website

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