Global Commodity Prices, Monetary Transmission, and Exchange Rate Pass-Through in the Pacific Islands

Working Paper No. 12/176

Pacific Islands countries are vulnerable to commodity price shocks, and this poses challenges to monetary policy. The high degree of exchange rate pass-through to headline inflation and the weak monetary transmission mechanism in PICs suggest a greater efficacy of exchange rate changes in affecting inflation rather than monetary policy. To... READ MORE...

Publication date: July 2012
ISBN 9781475505245

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Publication date: July 2012