monetary policy
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How central banks lose credibility – and why it matters
Central banks can lose credibility quickly when policy decisions are seen as politically driven. Evidence from Brazil shows that even a single ungrounded policy shift can unanchor inflation expectations and deteriorate inflation dynamics.
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How does monetary policy shape economic activity in developing countries?
How does monetary policy transmit through developing economies? New evidence shows that firms do react to both monetary policy contraction and expansion, but not symmetrically.