Tombini rejects ‘generalised vulnerability’ of EMs
Governor credits Central Bank of Brazil with nuanced view of global adjustment
The Central Bank of Brazil has helped dispel the "false thesis" of a "generalised vulnerability" among emerging market economies, according to governor Alexandre Tombini.
Tombini told an audience in London last night that the normalisation of international monetary conditions would lead to a "realignment of asset prices, including exchange rates".
He said this was a "natural process" that was set off in May 2013 when the Federal Reserve began discussing when it would taper its asset purchases
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