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high degree of exchange rate pass-through to headline inflation and the weak monetary transmission mechanism in PICs … suggest a greater efficacy of exchange rate changes in affecting inflation rather than monetary policy. To assess the tradeoff … rate changes and headline inflation and the low interest rate sensitivity of aggregate demand …
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high degree of exchange rate pass-through to headline inflation and the weak monetary transmission mechanism in PICs … suggest a greater efficacy of exchange rate changes in affecting inflation rather than monetary policy. To assess the tradeoff … rate changes and headline inflation and the low interest rate sensitivity of aggregate demand …
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