“A Research Perspective on the Propagation of the Credit Market Turmoil,” Research Bulletin No. 6, June, European Central Bank. Committee on the Global Financial System (CGFS) (2008). “Central bank operations in response to the financial turmoil”, CGFS Publications No. 31. Cukierman, A. (2006). “Central bank finances and independence – How much capital should a central bank have?
Although emerging markets as a group have been affected negatively, there has been some differentiation in investors’ appetites among specific economies. So far, Mexico’s financial asset prices have been relatively less affected, and the availability of foreign financing continues to be ample. Yet the country cannot take the present situation for granted, since market sentiment can deteriorate further at any time.