Transparency versus constructive ambiguity in foreign exchange intervention

Priscilla Chiu
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Priscilla Chiu: Hong Kong Monetary Authority

No 144, BIS Working Papers from Bank for International Settlements

Abstract: Based on a survey of 10 central banks and a review of existing literature, this paper examines the choice between transparency versus ambiguity in central banks' foreign exchange intervention. Three case studies - Canada, Hong Kong SAR and Japan - are presented to highlight the problems facing central banks in this choice, and the changes that have been made to cope with those challenges.

Keywords: foreign exchange intervention; transparency versus constructive ambiguity (search for similar items in EconPapers)
Pages: 31 pages
Date: 2003-10
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Citations: View citations in EconPapers (61)

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