“Evolving International Financial Markets: Some Implications for Central Banks” BIS No.66

Internationally integrated capital markets can have significant effects on the way central bankers pursue both monetary (macroeconomic) and financial stability. With respect to the former, countries are being pushed into corner solutions of either “immutably” fixed exchange rates or floating.

Publication:  Bank for International Settlements Date:  1 April 1999

work66_Evolving International Financial Markets.pdf