Carstens says EMEs right to intervene, but must be ‘rigorous’
BIS “expending a great deal of analytical effort” in understanding the issue, he says
“Quasi-managed” exchange rate regimes are a sensible way for emerging market economies (EMEs) to safeguard monetary stability, but a more “rigorous” analytical framework is needed, Agustín Carstens said on May 2.
The Bank for International Settlements’ general manager said most EMEs have emerged “unscathed” from the turbulence of 2018, which he attributed largely to their pragmatic approach to mixing floating exchange rates with foreign exchange interventions to tackle excessive turbulence.
“I
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