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Future Direction of Monetary Policy

By
TRI WINARNO
Β· 1 menit baca
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Global financial markets have begun to respond to the contractionary monetary policy in developed countries. The Bank of Japan (BOJ) and the Swiss National Bank (SNB) are the only central banks that still maintain a relatively loose monetary policy.

The US Federal Reserve has started to gradually pull out of its quantitative easing program introduced in 2014 and began normalizing its policy rate by the end of 2015.The European Central Bank (ECB) is considering the same step in the termination of its asset purchase program in 2018, and is also considering ending its negative interest rate policy.

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