Given the impossible trinity of achieving monetary policy independence, fixed exchange rate and free capital flow in an open economy, a managed floating exchange rate regime will help enhance the proactiveness and capability of macroeconomic management and the effectiveness of monetary policy, curb inflation and asset bubbles and contain the macroeconomic risks. 3.
Therefore, we extend our warm welcome to the initiative of ProCredit Bank and the brochure “How to Talk to Banks”, which will doubtless make rights and obligations arising from the use of specific financial products and services more easily comprehensible to customers.