Not exact matches
Devaluation means a deliberate
attempt by a
government or
central bank to lower the value of its currency in foreign - exchange markets.
The
government also has pumped vast sums of money into these banks
by letting them speculate against the
central bank's futile
attempts to defend the ruble's exchange rate, a policy whose main effect has been to subsidize capital flight.
This puts
central banks in a position where they will have
attempt to control interest rates not
by discounting lending, but
by buying debt from the
government directly, so that markets don't price the new issuance at a level that would destroy the nation's ability to service a debt load that is growing larger all the time.
Apparently it was, because Leveson's
attempted half - way house of «self - regulated independent body with statutory underpinnings» had its
central policy rejected
by the
government.
In an
attempt to better understand the issues underlying the debate, the researchers evaluated the model used
by economists — from
central banks to the International Monetary Fund — to predict the impacts of
government spending.