Javier Guzmán Calafell: End of QE and rising interest rates - implications for advanced and emerging markets

Speech by Mr Javier Guzmán Calafell, Deputy Governor of the Bank of Mexico, at the panel on "End of QE and Rising Interest Rates: Implications for Advanced and Emerging Markets Economies", during the 24th Reserve Management Seminar, organized by UBS, Thun, Switzerland, 26 June 2018.

The views expressed in this speech are those of the speaker and not the view of the BIS.

I am very glad to have the opportunity to participate in another UBS Reserve Management Seminar. I thank the organizers for their kind invitation.

Over the several years that have followed the outburst of the Global Financial Crisis (GFC), Emerging Market and Developing Economies (EMDEs) have been able to sustain a satisfactory pace of expansion, with 2018 expected to record the third consecutive year of accelerating activity.