The International Transmission of Monetary Policy in Recent Years: Thailand's Perspectives

14 Pages Posted: 7 Oct 2014

Date Written: August 2014

Abstract

Owing to the extraordinarily accommodative monetary policy of advanced economy central banks, those of emerging market economies have entered uncharted territory. This note reviews the experience of Thailand, a small economy highly exposed to international trade and capital flows, in dealing with monetary policy spillovers during the various phases of the US Fed’s QE programmes. The Monetary Policy Committee’s policy responses and their rationale highlight the difficult trade-offs faced by monetary policymakers as they seek to maintain economic and financial stability.

Full publication: The Transmission of Unconventional Monetary Policy to the Emerging Markets

Keywords: Thailand, unconventional monetary policies, spillovers, financial stability, policy responses

JEL Classification: E 44, E52, E58, F30

Suggested Citation

Nakornthab, Don, The International Transmission of Monetary Policy in Recent Years: Thailand's Perspectives (August 2014). BIS Paper No. 78w, Available at SSRN: https://ssrn.com/abstract=2500399

Don Nakornthab (Contact Author)

Bank of Thailand ( email )

273 Samsen Road
Bangkhunprom, Bangkok 10200
United States

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