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Monetary in sentence

5081 examples of Monetary in a sentence

But the discussion focused very little on one key cause: the global monetary system.
And it was the motivation behind the 1969 creation of the IMF’s Special Drawing Right (SDR), which was supposed to become “the principle reserve asset in the international monetary system.”
If those SDRs were issued during crises, like the one that emerging and developing economies are confronting today, the result would be a truly counter-cyclical global monetary policy.
There is plenty of incentive for countries to collaborate, rather than using trade, finance, monetary policy, public-sector purchasing, tax policy, or other levers to undermine one another.
In the absence of a vigorous international re-investment program, monetary policy is being used to prop up growth.
But monetary policy typically focuses on domestic recovery.
This is not to say that sudden “normalization” of monetary policy is a good idea.
The problem with debt restructuring in the eurozone is that it is essential and, at the same time, inconsistent with the implicit constitution underpinning the monetary union.
To the extent that unconventional monetary policy – including various forms of quantitative easing, as well as pronouncements about prolonging low interest rates – serves these roles, it might be justified.
Similarly, with its outright monetary transaction (OMT) program, the European Central Bank has offered to buy peripheral eurozone countries’ sovereign bonds in the secondary market – provided that they sign up to agreed reforms.
A last defense offered by advocates of continuing on the path of adventurous monetary policy, even when the perceived benefits are small, is that, because politicians refuse to settle their differences and act, monetary policy is “the only game in town.”
By creating the impression that something beneficial is being done, unconventional monetary policy relieves pressure on politicians.
Larry Summers, now the highly influential director of President Barack Obama’s National Economic Council, concluded as a young economist that “financial and monetary shocks are less important sources of depression than we had suspected.”
Whatever the immediate trigger, the consequences for the US are likely to be severe, for a simple reason: the US government continues to pursue pro-cyclical fiscal, macro-prudential, and even monetary policies.
When it comes to monetary policy, the US Federal Reserve has been doing a good job; but its independence is increasingly under attack from Republican politicians.
If this assault succeeds, counter-cyclical monetary policy would be impaired.
In 2010, they attacked the Fed for its monetary easing, even though unemployment was still above 9%.
This is tantamount to advocating pro-cyclical monetary policy.
The ECB must set its monetary policy on the basis of the eurozone average.
The crisis had moved from the monetary union’s periphery to its core.
For the first time since the onset of the crisis in Greece, it was officially recognized that the root of the eurozone’s problem was not the flouting of fiscal rules, and that the very principles underlying the monetary union had to be revisited.
The meaning of these words became clear with the subsequent announcement of the ECB’s “outright monetary transactions” (OMT) scheme, under which it would purchase short-term government bonds issued by countries benefiting from the European rescue fund’s conditional support.
Part of the reason for this may be that economic reform must now move from the macro level to the micro level, from trade and monetary policy to the web of legal and financial impediments entangling small business.
The perfect storm is forming because both Europe and America, for different reasons, are following monetary policies that encourage the euro to rocket to dangerous levels.
Further monetary easing has boosted a cyclical recovery in the eurozone, though potential growth in most countries remains well below 1%.
Many other emerging markets have slowed since 2013 as well, owing to weak external conditions, economic fragility (stemming from loose monetary, fiscal, and credit policies in the good years), and, often, a move away from market-oriented reforms and toward variants of state capitalism.
With most advanced economies pivoting too quickly to fiscal retrenchment, the burden of reviving growth was placed almost entirely on unconventional monetary policies, which have diminishing returns (if not counter-productive effects).
It will be no less difficult to leave behind unconventional monetary policies, as the US Federal Reserve recently suggested by signaling that it will normalize policy interest rates more slowly than expected.
But Brexit is not merely about ending a monetary regime – a relatively easy operation that can even produce beneficial policy outcomes – or escaping some irritating feature of modern European political life.
But, although their prediction turned out to be spectacularly wrong, that has not led Taylor or any of the other signatories to rethink their theories or to consider that perhaps Bernanke knows something about monetary economics.
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