Christine Lagarde, the incumbent managing director and chair of the International Monetary Fund (IMF), former French economy minister, soon to head the ECB

GIS Dossier: Monetary policy stood on its head

  • Central bank independence comes under threat when their mandates become broadened and decisions politicized
  • Unorthodox monetary policies in Europe and the U.S. supposedly prevented financial meltdowns  
  • In the longer run, however, easy-money policies bring significant distortions in the economy and stymie growth
  • As politicians and companies become addicted to cheap credit, prudent savers, who usually buy bonds, are punished 
  • Attempts to back off such policies bring their own risks
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 GIS Feature
Recent economic history shows that there is no monetary policy magic wand
read more about it in the report
What's inside
  • Central bank independence comes under threat when their mandates become broadened and decisions politicized
  • Unorthodox monetary policies in Europe and the U.S. supposedly prevented financial meltdowns  
  • In the longer run, however, easy-money policies bring significant distortions in the economy and stymie growth
  • As politicians and companies become addicted to cheap credit, prudent savers, who usually buy bonds, are punished 
  • Attempts to back off such policies bring their own risks
Who will benefit?
  • Report is targeted to the decision makers in cross country manufacturing – suppliers, manufacturers, logistics.
  • Also considered useful for the administrative university facilities, to better understand the possibe effects of current decisions.
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