By critically reviewing the relevant theoretical and empirical literature, discuss the arguments for and against a country’s central bank allowing the value of its currency to fall.

Central banks and currency policy

By critically reviewing the relevant theoretical and empirical literature, discuss the arguments for and against a country’s central bank allowing the value of its currency to fall.

You must illustrate your answer using case study material based on actions taken this century either by the US Federal Reserve Board or by the People’s Bank of China.

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