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China's exchange rate and financial repression : the conflicted emergence of the renminbi as an international currency
McKinnon, Ronald I.; Schnabl, Gunther - 2014
China has been provoked into speeding renminbi internationalization. But despite rapid growth in offshore financial … could attract even more hot money inflows, the People's Bank of China should focus on tightly stabilizing the yuan/ dollar … exchange rate to encourage naturally high wage increases for balancing China's international competitiveness. …
Persistent link: https://www.econbiz.de/10010249643
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A tale of two surplus countries : China and Germany
Cheung, Yin-Wong; Steinkamp, Sven; Westermann, Frank - 2019
We analyze current account imbalances through the lens of the two largest surplus countries; China and Germany. We … observe two striking patterns visible since the 2007/8 Global Financial Crisis. First, while China has been gradually reducing … these two countries, there is a remarkable reversal in the patterns of exchange rate misalignment: China's currency has …
Persistent link: https://www.econbiz.de/10012008403
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A tale of two surplus countries : China and Germany
Cheung, Yin-Wong; Steinkamp, Sven; Westermann, Frank - 2019
We analyze current account imbalances through the lens of the two largest surplus countries; China and Germany. We … observe two striking patterns visible since the 2007/8 Global Financial Crisis. First, while China has been gradually reducing … these two countries, there is a remarkable reversal in the patterns of exchange rate misalignment: China’s currency has …
Persistent link: https://www.econbiz.de/10012024585
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Reserves Management and FX Interventions
Republic of Turkey, Central Bank of the - 2019
Policy normalisation in the major advanced economies affects emerging market economies (EMEs) through many channels, posing major challenges for their central banks. EMEs have adopted a policy toolkit including monetary, fiscal, exchange rate and macroprudential policies. Given many EMEs' high...
Persistent link: https://www.econbiz.de/10012857969
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Reserves Management and FX Intervention
Santiago, Maria Ramona - 2019
Persistent link: https://www.econbiz.de/10012857984
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Reserve Management and FX Intervention in Mexico
Calafell, Javier Guzmán - 2019
This note outlines Mexico's recent experience with three closely interrelated issues. First, on the basis of a legal framework regulating transactions in foreign currency between the central bank and government entities, and preannounced market-based mechanisms, the stock of international...
Persistent link: https://www.econbiz.de/10012857986
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Reserves Management and FX Intervention
Aziz, Norzila Abdul - 2019
The shift in global monetary policy from quantitative easing (QE) to the subsequent policy normalisation has led to volatile two-way capital flows for the emerging market economies (EMEs). Many EMEs' central banks have faced considerable challenges in maintaining monetary and financial stability...
Persistent link: https://www.econbiz.de/10012857987
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Reserves Management and FX Intervention
Korea, Bank of - 2019
Korea's FX reserves have increased steadily since 2008, to a total of $404 billion as of the end of 2018. This has helped reduce private foreign currency funding costs and exchange rate volatility by contributing to a stable sovereign credit rating. In turn, this has helped to stabilise domestic...
Persistent link: https://www.econbiz.de/10012857988
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Reserves Management and Foreign Exchange Intervention
(PBC), The People's Bank of China - 2019
on the practices of the People's Bank of China in diversifying its FX reserves and outline various ways in which the …
Persistent link: https://www.econbiz.de/10012858284
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The Brazilian Strategy and the Interventions to Manage Risk of Foreign Currency Exposure During Crisis
Silva Jr., Antonio F. A. - 2010
Even in a floating foreign exchange rate regime monetary authorities sometimes intervene in the currency market due to liquidity demand and foreign exchange crisis. Typically, central banks intervene using foreign currency trades and/or changing domestic interest rates. We discuss this framework...
Persistent link: https://www.econbiz.de/10013147278