IMF working paper calls for consistency in East African monetary policy
A new working paper from the International Monetary Fund looking into the transmission of monetary policy in the East African Community (EAC) has found the importance of different transmission channels differs from country to country.
The paper, by Hamid Davoodi, Shiv Dixit and Gabor Pinter, also finds that different instruments of monetary policy are sometimes used in contradictory directions – harming their effectiveness but also posing challenges to harmonisation of monetary policies across
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