Monetary policies spill over to currencies, BIS paper says
Paper examines impact of multiple monetary policies on cross-border bank lending
Monetary policies spill over across both countries and currencies, a new paper published by the Bank for International Settlements finds.
In their paper, Transmission of monetary policy through global banks: whole policy matters?, Stefan Avdjiev, Catherine Koch, Patrick McGuire and Goetz von Peter examine the effect of three countries’ monetary policies at the same time to see which has the most impact on international lending.
The three countries examined were the lender’s, the borrower’s and
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