A careful reading of recent policy statements in advanced economies points to an intriguing possibility: after being forced into quite a similar stance, individual central banks will try to implement more differentiated monetary policy approaches. The driver is greater evidence of multispeed economic growth. The challenge is for other components of economic policies to support the more differentiated set of central bank policies. And what is fundamentally at stake is the much-desired shift from policy-induced growth to genuine self-sustaining private sector engines. Continue reading »
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