High 'euro-isation' poses challenges to monetary policy: IMF paper

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An International Monetary Fund paper published on Thursday finds the channels for the monetary policy transmission mechanism in Hungary are operational, despite large-liability 'euro-isation' and high foreign ownership of banks and corporations.

Alina Carare and Adina Popescu, the paper's authors, analyse monetary policy and risk-premium shocks in Hungary in the past decade, when monetary policy was conducted in the context of an inflation-targeting framework. The authors link the euro-isation

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