Agustín Carstens on fixing the global monetary system

Agustín Carstens
Agustín Carstens
BIS

The Bank for International Settlements (BIS) has said there is a need for a clearer framework for emerging market economy central banks to combine inflation targeting, forex interventions and even capital controls. During your time at the Bank of Mexico, did you try to develop a coherent framework, or was it more a case of doing what worked?

As we described in chapter 2 of our annual economic report for 2019, this is an iterative process. We are in a situation where the framework that has been

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