BIS's Knight on emerging market economies

In the speech 'The role of the exchange rate in the monetary frameworks of emerging market economies' given on 27 May Malcolm Knight of the BIS discusses the challenge of determining an exchange rate regime for emerging market countries undergoing rapid disinflation and structural transformation.

He reviews special considerations that make the choice of exchange rate regime and monetary policy framework in emerging market economies complex. He emphasises the need for consistency between monetary

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