Weak dollar mitigated April tariff shocks – BIS’s Maechler
Greenback’s depreciation boosts risk appetite and lowers import costs, deputy general manager says
The impacts of US tariffs on the world economy were relatively short-lived, partly because of the dollar’s subsequent depreciation, the deputy general manager of the Bank for International Settlements has said.
Speaking today (September 23) at Brussels-based thinktank Bruegel, Andréa Maechler explained how financial factors had helped mitigate the disruptive effects of the levies.
“As the dollar depreciates, the value of non-dollar assets rises compared with dollar liabilities,” she said. “This
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