Monetary policy in the grip of a pincer movement
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Date
2019
Journal Title
Journal ISSN
Volume Title
Publisher
Banco Central de Chile
Abstract
Description
Monetary policy has come under strain since the global financial crisis (GFC) of 2007â09. Once the GFC broke out central banksâ swift and determined response was essential to stabilise markets and to avoid a self-reinforcing downward spiral between the financial system and the real economy. But putting the economy back onto a robust balanced and sustainable path has proved much harder than expected. This has been so despite the adoption of extraordinary measures which would have been simply unthinkable just a few years back.
Keywords
POLĂTICA MONETARIA, CRISIS FINANCIERA, BANCOS CENTRALES