FX market intervention key tool for emerging market economies
Central bank markets departments perform a wide range of different roles
Central banks in emerging market economies (EMEs) are more likely than their peers in advanced economies to task their markets/monetary operations department with foreign exchange intervention.
This may partly reflect the fact that just over a quarter of EME central banks said their primary nominal anchor is the exchange rate.
Among advanced economies, all central banks said their markets departments perform market monitoring and market intelligence.
Of these central banks, a clear majority
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