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- Title
Sterling's rise: A case of delayed overshooting?
- Authors
Breedon, Francis
- Abstract
In this article Francis Breedon discusses how sterling's rise over the last 6 months can be explained in terms of a delayed overshooting reaction to past monetary policy. Although the timing is still hard to judge, it seems that this effect should now begin to wear off, allowing sterling to fall - particularly against the DM. As far as future monetary policy is concerned, this delayed overshoot is another argument for the Treasury and Bank of England undertaking a more activist exchange rate policy, perhaps following the example of another open economy on the fringes of EMU - Switzerland.
- Subjects
UNITED Kingdom; FOREIGN exchange rates; MONETARY policy
- Publication
Economic Outlook, 1998, Vol 22, Issue 3, p4
- ISSN
0140-489X
- Publication type
Article
- DOI
10.1111/1468-0319.00120