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A classic currency board cannot.
Also, a classic currency board, unlike a central bank, cannot act as a lender of last resort.
Many see this as the outbreak of a classic currency war, along 1930s lines, where rival economic giants engage in a pointless game of devaluing their own currency – boosting exports but hitting the spending power of their people – to their mutual detriment.
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In a classic example of the downside of currency risk, BellSouth's per-share profit was reduced 5percentt after the weakening of several Latin American currencies.
It's a classic example of a government keeping the foreign-currency value of its money artificially low by selling its own currency and buying foreign currency.
A classic sign of uncompetitiveness caused by an overvalued currency is declining exports.
The increasingly asymmetric relationship between the currency markets and national governments represents a classic autonomy problem.
A classic solution would be to give exporters a shot in the arm by cutting interest rates sharply and allowing the currency to fall.
A classic play in a classic production.
"A classic pothole".
It became a classic.
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