Capital flow measures needed before offshore krona auction, says Guðmundsson
Central bank needs tools to maintain autonomy of monetary policy, governor says
The government of Iceland should set in law the powers required by its central bank to curb capital inflows before a forthcoming auction of foreign currency, said governor Már Guðmundsson on March 17.
Guðmundsson has long been an advocate of the use of capital flow measures to stop short-run capital movements affecting monetary policy in Iceland. During remarks at the central bank's annual general meeting, he said such measures could take the form of a tax or "special reserve requirement", but
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