Although Coordinated Changes in Monetary Policy Are Likely to Affect

Although coordinated changes in monetary policy are likely to affect the exchange rate,

A) it has proven impossible to achieve such coordination among the world's central banks.
B) sterilized interventions by themselves are unlikely to have a long-term effect on the exchange rate.
C) they can do so only at the cost of increasing the worldwide inflation rate.
D) they can do so only at the cost of significantly increasing the chances of worldwide recession.