IMF gives verdict on unconventional monetary policies

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The International Monetary Fund (IMF) today published a policy paper examining the effectiveness of a range of unconventional monetary policies, concluding they have generally helped support economic recovery, but warning of many empirical pitfalls along the way.

The IMF looked at a wide range of stimulus measures, including purchases of both public and private assets, emergency liquidity support, the European Central Bank's (ECB) outright monetary transactions (OMT) programme, and lending

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