Canceled: FX Intervention Rules A Risk-Based Framework
Source details
- Canonical URL
- Canceled: FX Intervention Rules A Risk-Based Framework
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Bibliographic details
- Session: ST 24.12
- Location: Singapore, Singapore
- Dates: April 15-19, 2024 (1 week)
- Delivery method: In-person Training
- Primary language: English
Status and Logistics
- Status: Cancelled
- Session No.: ST 24.12
- Location: Singapore, Singapore
- Date: April 15-19, 2024 (1 week)
- Delivery Method: In-person Training
- Primary Language: English
Target audience and qualifications
- Target Audience:
- Mid-level to senior central bank officials interested in market operations and monetary policy strategy.
- Qualifications:
- Participants with experience in bank central bank operations, financial markets, and basic knowledge of quantitative methods.
Course description and theoretical basis
- Focus:
- How to estimate and implement foreign exchange intervention rules based on a risk approach.
- Applicable settings:
- Central banks operating a flexible exchange rate arrangement, intervening on the foreign exchange market with financial and price stability objectives.
- Central banks transitioning from a fixed exchange rate arrangement to a floating exchange rate arrangement.
- Coverage:
- The theoretical background for risk-based FX interventions.
- The econometric theory of risk estimation.
- A complete application on a country case.
- Reference:
- The theory of risk-based FX interventions is explained in the IMF Working Paper No. 21/32 (Lafarguette and Veyrune 2021).
Course objectives
- Upon completion participants should be able to:
- Implement an FX risk model that can be used for conducting FX market monitoring and inform policymakers decisions.
- Implement an FX risk model for intervening on the FX markets via a risk-optimal approach.
- Implement an FX risk model for benchmarking past FX interventions (even discretionary-based).
References