Exchange rate losing significance in Asian monetary policy, BIS paper argues

Asia globe

Increased financial internationalisation reduces the effectiveness of sterilised intervention, as the international policy trilemma becomes more relevant – meaning Asian countries who have used the tactic to good effect in the past will find its efficacy reducing as their financial and goods markets become more integrated, according to a working paper from the Bank for International Settlements.

In Globalisation, pass-through and the optimal policy response to exchange rates, Michael Devereux of

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account