You are here

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

Domestic monetary policy has been rendered impotent thanks to financial globalisation


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...

Market voices on: