Monetary
in sentence
5081 examples of Monetary in a sentence
What is at stake for Germany is not simply its reputation as a source of economic dynamism and an anchor of
monetary
stability within the EU.
In the 1990’s, the main attraction of
monetary
union for Italian and Spanish politicians was that the new currency would bring down interest rates and make foreign money available for cheap financing of government debt.
Until the late 1990’s and the advent of
monetary
union, most government debt in the European Union was domestically held: in 1998, foreigners held only one-fifth of sovereign debt.
The economists’ commonplace that a
monetary
union demands a fiscal union is only part of a much deeper truth about debt and obligation: debt is rarely sustainable if there is not some sense of communal or collective responsibility.
Moreover, alarmist talk of a “split” overlooks the reality that the EU and the
monetary
union have long been moving at different speeds.
In the area of
monetary
integration, the European Constitution doesn’t change anything, other than the voting procedures in the Governing Council if EMU grows beyond 15 member countries.
Rather, Cyprus has fallen victim to flaws in Europe’s
monetary
system.
Europe is experiencing a crisis of the fiat
monetary
system, which can only be overcome with competing private currencies.
But financial markets’ reaction to the US Federal Reserve’s warning in May that it may wind down its unconventional
monetary
policies led many analysts to question how rapid emerging-market growth would be.
In the US, the Federal Reserve’s ongoing exit from ultra-easy post-crisis
monetary
policy adds to the sense among market participants and other countries’ policymakers that normal times are returning.
Perhaps the main lesson is that even more caution is warranted in deciding whether the time is ripe to “normalize”
monetary
policy.
And the Fed has continued its low-interest
monetary
policy.
Economically, they must choose either joint liability and a transfer union or
monetary
re-nationalization.
But, in fact, the depreciation of the dollar began well before the September 1985 meeting, and the meeting was limited in the sense that there was no discussion of
monetary
or interest-rate policy.
The resulting
monetary
expansion in the second half of the 1980’s fueled Japan’s massive asset-price bubble, the collapse of which seemed to lead directly to the country’s “lost decade” of stagnation.
After all, the real lesson of the 1980’s is that exerting massive pressure for exchange-rate adjustment and looser
monetary
and fiscal policy won’t work – especially since China now, like Japan then, is already running substantial budget deficits.
Only then can
monetary
policy achieve its goal: supporting productive investment, innovation, the scaling of private-sector businesses, and real economic growth.
The main driving force clearly has been
monetary
divergence, with the Federal Reserve tightening policy and the European Central Bank maintaining rock-bottom interest rates and launching quantitative easing.
Last year, many investors questioned the ECB's ability to launch a bond-buying program in the face of German opposition, and many others doubted the Fed's willingness to tighten
monetary
policy, because doing so could choke off the US economic recovery.
With so much of the
monetary
divergence now discounted, perhaps we should focus more attention on the other factors that could influence currency movements in the months ahead.
First, there is the effect of the strong dollar itself on the US economy and its
monetary
policy.
While higher US interest rates will attract some investors, others will move away from the dollar if the combination of a more competitive euro, the ECB's enormous
monetary
stimulus, and an easing of fiscal pressures in France, Italy, and Spain generates a genuine economic recovery in Europe.
Zhou is an intelligent and internationally respected expert on
monetary
policy and finance.
As the head of the PBOC, he has favored more market-based
monetary
policies and increased internationalization of China’s currency, the renminbi.
If
monetary
authorities respond appropriately to growing inflationary pressure – recognizing that much of it is imported, and not a result of excess domestic demand – we may be able to manage our way through it.
Perhaps the most talked-about recent example is the impact of advanced-country
monetary
policies on capital flows into and out of emerging economies.
While France has called for a true eurozone budget, Germany still favors a simple European
monetary
fund, to be used only for emergencies.
The current approach of
monetary
stringency has failed.
If they fail to ease
monetary
policy, deflation is around the corner.
But the cursed EMU prospect -- a waste of time, a waste of energy, a terrible mistake that much is clear today -- forces everybody to put on a demanding show in the
monetary
stage.
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