Divyang Shah, IFR Senior Strategist
Divyang's focus is in following broad macro trends globally with a view to building a tradable analytical framework. He was editor of the flagship products at IDEAglobal as well as head of FX research and then moved to Chief Strategist at Commonwealth Bank of Australia before joining IFR.
Divyang Shah on Bank of Japan’s surprise negative interest rate policy.
The original Bretton Woods system of fixed exchange rates broke down in the early 1970s when the US ditched the gold standard. But in the post-Asia crisis period, the Bretton Woods II surfaced, popularised by Garber, Dooley and Folkerts-Landau, and argued that Asian countries (the periphery) committed to export-led growth through an undervalued exchange rate would export capital to the US (the core).
Shah: Policy divergence to limit size of depo cut.