Forex intervention unlikely to affect inflation expectations in the long-term, paper shows
A Chilean exchange rate intervention programme carried out in 2008 had a significant, short-lived impact on the distribution of inflation expectations, but a similar programme three years later had no relevant effect, a recent working paper by the Central Bank of Chile shows.
Considering two episodes of preannounced central bank interventions during the sample period 2007–12, the paper, Interventions and Inflation expectations in an Inflation-Targeting Economy by Pablo Pincheira, uses a set of
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