Balancing reserves’ effectiveness and transparency
Iris Yeung speaks to Canada’s Eric Wolfe on trade-offs faced by reserve managers
Many countries have built up a massive amount of foreign exchange (forex) reserves over the past decade, and the pace accelerated after the global financial crisis. While holding prudential reserves has been important for both crisis prevention and crisis mitigation, there has been less discussion about the effectiveness of reserves.
“In an atmosphere of algorithmic trading and electronic trading, we already know that intervention has limited effectiveness. And now intervention is more
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