The Way Back for Monetary Policy
The central banks of major advanced economies have been navigating uncharted territory in recent years, deploying a range of unconventional monetary-policy tools that have had benefits, but have not stabilized the world economy. The time has now come to head back toward more familiar policy terrain.
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SEOUL – The central banks of major advanced economies have been navigating uncharted territory in recent years. While their use of a range of unconventional monetary-policy tools has had benefits, it has also generated significant uncertainty, without fully stabilizing the world economy. Now the time has come to head back toward more familiar policy terrain.