I merely wish to record that from about the middle of 1999, markets around the world began to recognise that the accommodative stance of monetary
policy by major central banks that had been so appropriate for 1998 and early 1999 was starting to look less appropriate as 1999 progressed and strengthened.
What Governor Rajan did say, in his remarks made off the attached written text, was that the policies
followed by major central banks around the world were in danger of slipping into the kind of beggar - thy - neighbour strategies that were followed in the 1930s.
«Swap lines — along the lines
provided by major central banks early in the crisis — can help,» and the IMF stands «ready to provide policy advice and financial support,» she said.
It is in fact the case that the amount of currency in circulation has not been affected by any of these policies (such as quantitative
easing by major central banks).
While the decision to leave the EU has caused notable market upheaval, global market declines were actually more extreme in the first few months of 2016 due to significant commodity price weakness, concerns regarding slowed economic growth in the U.S. and China, and monetary
decisions by major central banks.
The package of measures was extensive, and included not only a further reduction in its main interest rate for lending to banks, but the first - ever negative deposit rate to be
implemented by a major central bank.
Most global sovereign yields rose, as stocks rallied, amid strong economic data and expectations of monetary policy
normalization by major central banks, particularly from the Bank of Japan and European Central Bank (ECB)
The dollar's sell - off was also helped by investors betting on tighter monetary
policies by major central banks, bringing them in line with the Federal Reserve.
Easy monetary policy
by major central banks to help combat the effects of the global financial crisis in 2007 - 2008 saw an influx of money into the world's markets, a lot of which went into emerging economies.