BIS studies highlight limits to unconventional policy
Policies seen as broadly effective, but reports warn of spillovers and other unintended effects
Unconventional policies have broadly succeeded in their aims, but there is a cost in terms of spillovers and other unintended consequences, two reports published by the Bank for International Settlements find.
The reports mark the culmination of a major effort to gather – and reconcile – the views of a wide range of central bankers, academics and market participants. One report by the Committee on the Global Financial System (CGFS) weighs a selection of key unconventional policies, while a
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