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Emerging markets aren't really in charge of their own rates anymore: study

Domestic monetary policy has been rendered impotent thanks to financial globalisation
Tuesday, August 9, 2016 - 05:50

London

EMERGING market central banks are shackled to their US counterparts, with local long-term interest rates held hostage to the Federal Reserve and the monetary policies of other advanced economies.

That's the striking picture painted, in not so many words, by a new Bank for