Transparency versus constructive ambiguity in foreign exchange intervention
AbstractBased on a survey of 10 central banks and a review of existing literature, this paper examines the choice between transparency versus ambiguity in central banks' foreign exchange intervention. Three case studies - Canada, Hong Kong SAR and Japan - are presented to highlight the problems facing central banks in this choice, and the changes that have been made to cope with those challenges.
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Bibliographic InfoPaper provided by Bank for International Settlements in its series BIS Working Papers with number 144.
Length: 31 pages
Date of creation: Oct 2003
Date of revision:
foreign exchange intervention; transparency versus constructive ambiguity;
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