10 Adler G and CO Buitron (2017), ‘Tipping the Scale? The Workings of Monetary Policy through Trade’ IMF Working  Paper 17/142. Available at <www.imf.org/~/media/Files/Publications/WP/2017/wp17142.ashx>. 11 Ferrari M, J Kearns and A Schrimpf (2017), ‘Monetary Policy’s Rising FX Impact in the Era of Ultra-low Rates’,  BIS Working paper No 626, April. Available at <www.bis.org/publ/work626.pdf>.
12 Debelle G (2017), ‘How I Learned to Stop Worrying and Love the Basis’, Dinner Address at the BIS Symposium:  CIP–RIP? Basel, 22 May. 13 The yen basis refers to the cost for a Japanese investor of hedging a US dollar or Australian dollar investment,  say, back into yen.