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With an upcoming meeting Bank of EnglandThe options for Governor Mark Carney and his colleagues are low because interest rates have fallen to low levels and quantitative easing, the purchase of financial assets by the central bank to increase the amount of funds raised to 'advance in the economy, has declined.
And if standing Central Banks Who had already been recovered Mondial economy The recession has been unable to provide solutions, which opens the door to the possibility of a significant change in the way of struggling and dealing with economic decision makers for the decline and the next decline.
The newspaper quoted "Telegraph" The British about seventy, chief economist at "Saxo Bank" Says after the announcement of acquiescence Federal Reserve Investors and announce their intention to extend the interest rate freeze and stop quantitative easing, a kind of monetary policy applied by the Central Bank, consisting of buying back bonds from the amount stated in order to reduce profitability and increase the amount of liquidity in the country's financial system, "Monetary policy is dead".
Experts such as William Buetter suggest a group "Citigroup" The concept of collective action to revive the global economy, where spending and taxation play a greater role in monetary policies controlling the economy. liquidity supply and loan costs.
Central banks will have to abandon their traditional monetary instruments if they want to recover, which will be slow and fragile, which will keep the growth rate of the old continent very negative or very low in the best scenarios.
In particular, the easing of quantitative easing by banks has led to the purchase of bonds to reduce Interest rateAnd push investors towards high risk assets.
Central banks in the euro area followed this trend before recovering from their crisis in 2017 after the ECB urged this principle, which was reintroduced by bank president Mario Draghi earlier this month. .
The leader of the British Labor Party, Jeremy Corbin, has also proposed a concept "Quantitative Group Relaxation" which relies on the printing of funds from the Central Bank for the purpose of financing public investments.
Among the proposed solutions are also the adoption "Modern Critical Theory" which is based on the fact that any country dependent on its national currency does not worry about the debt as long as it can print from the Money to repay it, with a disadvantage is L & # 39; inflation.
Although this theory has been endorsed by economists around the world in recent decades, an opinion poll was conducted by a forum. "Global Markets Initiative" This month, he pointed to a divergence of opinions of locals on the merits of the idea, with warnings on hyperinflation and currency devaluation who accompanied him.
In addition, central banks face additional threats to their independence from populism and strong reactions that could arise if austerity measures were imposed by the government.
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As the Bank of England approaches, the options offered to Bank of England Governor Mark Carney are low: interest rates have fallen to low levels and quantitative easing, the purchase of financial assets by the central bank to increase the amount of funds established in advance in the economy, declined.
Central banks that have already pulled the global economy out of the recession have been unable to come up with solutions, opening the door to the possibility of a major shift in the way economic policymakers struggle and cope with next economic downturn.
Sixty Jacobson, chief economist of Saxo Bank, reportedly told The Telegraph newspaper that, following investors' announcement of Federal Reserve compliance, he planned to extend the freeze on interest rates and interest rates. put an end to quantitative easing, a type of monetary policy of the central bank. Buy bonds in their declared amount to reduce their profitability and increase the amount of liquidity in the country's financial system, "monetary policy is dead".
Experts such as William Buiter of Citigroup suggest the concept of collective action to revive the global economy, with spending and taxes playing a bigger role in monetary policies controlling liquidity supply and borrowing costs.
Central banks will have to abandon their traditional monetary instruments if they want to recover, which will be slow and fragile, which will keep the growth rate of the old continent very negative or very low in the best scenarios.
One of the ways in which banks resorted to quantitative easing, that is by buying bonds at lower interest rates, pushed investors towards riskier assets.
Central banks in the euro area followed this trend before recovering from their crisis in 2017 after the ECB urged this principle, which was reintroduced by bank president Mario Draghi earlier this month. .
British Labor Party leader Jeremy Corbin also proposed the concept of "collective quantitative easing", which relies on the central bank's printing of funds to finance public investments.
One of the proposed solutions is also the adoption of the "modern monetary theory" according to which any country dependent on its national currency will not worry about the debt so long as it can print the money to repay it, with a obstacle to inflation.
Although this theory has been endorsed by economists around the world in recent decades, an opinion poll conducted this month by the World Markets Initiative revealed a difference of opinion on the merits of idea, with warnings of excessive inflation and devaluation.
In addition, central banks face additional threats to their independence from populism and strong reactions that could arise if austerity measures were imposed by the government.
