Measures of cross-border connectedness reached peak values at the onset of the ﬁnancial crisis and, after a sharp drop in 2008, have returned to or surpassed their pre-crisis levels.
Monetary policy transmission in developing economies such as ours is inhibited by structural factors and this vulnerability is exacerbated by the uncertain information context. The conduct of monetary policy will be better served by more firm data and less revisions. How do we ensure that?