Lower rates link to higher exchange rate impact – BIS paper
The exchange rate has become “significantly” more sensitive to monetary policy over time, with the fall of interest rates to historic lows playing an important role, a working paper finds.
Published on April 11 by the Bank for International Settlements (BIS), Monetary policy’s rising FX impact in the era of ultra-low rates, by Massimo Ferrari, Jonathan Kearns and Andreas Schrimpf, studies both conventional and unconventional policy, and covers the seven most traded currencies across the globe –
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