Euroland Was Left To Shoulder The Burden In A Global Competitive Devaluation
With the Bank of Japan this week boosting its asset-purchase plan and the US Federal Reserve mulling a new round of quantitative easing, Euroland is bucking the global push toward easier monetary policy. After keeping its key policy rate unchanged at 1.0%, the European Central Bank (ECB) said on 7 October that policymakers are in the same mood as a month ago and for now remain committed to phasing out their unlimited lending programme. The remark pushed the euro to touch a high US$1.40/euro for the first time since February and leaves the Euroland to shoulder the burden of efforts by major economies to weaken their exchange rates in a move to boost exports.
Tracking The World Economy... - 07/10/2010
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