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Unconventional in sentence

476 examples of Unconventional in a sentence

Third, in response to slower growth and lower inflation (owing partly to lower commodity prices), the world’s major central banks pursued another round of unconventional monetary easing: lower policy rates, forward guidance, quantitative easing (QE), and credit easing.
For the Bank of Japan (BoJ), which committed an unprecedented arsenal of unconventional policy weapons to arrest a 19-year stretch of 16.5% deflation lasting from 1994 to 2013, this is more than just a rude awakening.
The danger all along has been that open-ended unconventional monetary easing would fail to achieve traction in the real economy, and would inject excess liquidity into US and global financial markets that could lead to asset bubbles, reckless risk taking, and the next crisis.
Moreover, because unconventional easing was a strategy designed for an emergency that no longer exists, it leaves the Fed with no ammunition to fight the inevitable next downturn and crisis.
Both have been used more widely – indeed, taken to extreme levels – to supplement the unconventional expansion of balance sheets in the context of liquidity traps.
The implication is not that central banks should immediately halt their hyper-activism and unconventional measures.
Central banks have responded with a range of unconventional measures, including quantitative easing (QE) and negative interest rates.
Unconventional monetary policy in the United States – and in other advanced countries, particularly the United Kingdom and Japan – drove down domestic interest rates, while flooding international financial markets with liquidity.
But claiming that unconventional monetary-policy measures would carry the risk of “much stronger politicizing of exchange rates” misses the mark.
He has waged unconventional war in the West, while pursuing closer ties with the East, raising the likelihood that Russia will end up acting as China’s junior partner, without access to the Western capital, technology, and contacts that it needs to reverse its decline.
Here the statist thesis is reflected in its boldest form: there cannot be a bond strike in the United States or the United Kingdom, because their central banks have at their disposal the full panoply of policy tools – including unconventional operations – needed to ensure that debt is monetized.
The same is true of unconventional interventions in markets for corporate bonds and mortgage-backed securities.
Some will say that the way for central banks to ensure their independence is to abandon macroprudential and microprudential policies and foreswear unconventional interventions in securities markets.
Given the prevailing low level of interest rates, moreover, it is all but certain, come another crisis, that unconventional policies will be back.
But it does not diminish the need for bold unconventional action against deflation, and it should not prevent the ECB from launching QE.
Facing continued economic weakness, but having run out of conventional tools, they then embrace the unconventional approach of quantitative easing (QE).
And they evidently also made it clear to Varoufakis’s boss, Tsipras, that the future of negotiations depended on him casting aside his unconventional minister – which he did, first by assigning someone else to lead the negotiations and then by appointing a new finance minister altogether.
Given that China’s net external lending position amounts to $1.8 trillion, or 17.2% of GDP, the central bank has enough liquidity to reduce banks’ reserve requirements without resorting to unconventional monetary policy.
But advanced countries have learned the hard way in recent years how difficult this approach can be, as their massive unconventional monetary policies have failed to overcome deflationary forces.
In 1999, despite slightly below-target inflation, high unemployment, and financial-market volatility, the ECB Governing Council did not even consider zero or negative interest rates, much less unconventional policy measures.
Against this background, it is difficult to explain why the ECB continues to insist that unconventional monetary-policy measures – such as negative rates and continued bond purchases – are needed.
The unconventional monetary policies of recent years may also have some new effects.
But the Fed’s unconventional monetary policies have also created dangerous risks to the financial sector and the economy as a whole.
With the US looking more toward Asia, where China’s unilateral assertion of territorial claims in the South China Sea has jeopardized regional stability, it may become stretched too thin to provide a credible deterrent to Russian aggression, especially when it takes the form of unconventional, hybrid attacks.
As the only game in town when it came to economic stimulus, central banks were driven to adopt increasingly unconventional monetary policies.
Central banks’ unconventional monetary policies – namely, zero interest rates and massive asset purchases – were put in place in the depths of the 2008-2009 financial crisis.
This creates a dilemma for major central banks – beginning with the US Federal Reserve and the European Central Bank – attempting to phase out unconventional monetary policies: they have secured higher growth, but are still not hitting their target of a 2% annual inflation rate.
If policymakers are incorrect in assuming that the positive supply shocks holding down inflation are temporary, policy normalization may be the wrong approach, and unconventional policies should be sustained for longer.
Otherwise, they would need to sustain for much longer their unconventional monetary policies, including quantitative easing and negative policy rates – an approach with which most central banks (with the possible exception of the Bank of Japan) are not comfortable.
But continuing for much longer with unconventional monetary policies also carries the risk of undesirable asset-price inflation, excessive credit growth, and bubbles.
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