Indeed, studies have shown that even when emerging-market economies say they are floating (as Malaysia, for example, used to), they tend to rely more heavily than the industrial countries do on interest-rate policy and foreign-exchange market intervention to limit actual movements in the exchange rate.
Gensler first made the push to replace Libor last summer saying the financial world needs a rate that was tied to actualmarket transactions rather than what are essentially guesses by banks about their own daily borrowing rates.
Gensler first made the push to replace Libor last summer saying the financial world needs a rate that was tied to actualmarket transactions rather than what are essentially guesses by banks about their own borrowing daily rates.