Click here to view the full article.
The advent of the global financial crisis caused a severe collateral squeeze in the US in 2008, which was only partly relieved by prompt action by the Federal Reserve through its primary dealer credit, term securities lending and commercial paper funding facilities. The episode had profound macroeconomic consequences in the US and the rest of the world.2 The evidence is now emerging that the more recent euro area sovereign debt crisis has likewise caused a
- Argentine finance minister becomes central bank governor as crisis deepens
- BoJ cuts inflation estimate as it holds rates
- Trump’s fiscal policy threatens emerging markets – Lagarde
- IMF report says Mauritius central bank needs clearer resolution powers
- Argentina abandons monetary financing to secure IMF support