{"id":30004,"date":"2012-06-03T03:00:00","date_gmt":"2012-06-03T07:00:00","guid":{"rendered":"http:\/\/countingpips.com\/forex-news\/2012\/06\/emerging-markets-now-able-to-counter-downturns-bis\/"},"modified":"2012-06-03T03:00:00","modified_gmt":"2012-06-03T07:00:00","slug":"emerging-markets-now-able-to-counter-downturns-bis","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex-news\/2012\/06\/03\/emerging-markets-now-able-to-counter-downturns-bis\/","title":{"rendered":"EMERGING MARKETS NOW ABLE TO COUNTER DOWNTURNS \u2013 BIS"},"content":{"rendered":"

By Central Bank News
\nMost emerging market economies have successfully carried out countercyclical policies in the last decade, similar to advanced economies, contributing to the stability of the global economy, a study by the BIS said.<\/p>\n

    In the past, monetary policy in many emerging economies was handcuffed by expansionary fiscal policy in economic upswings \u2013 known as fiscal dominance — leaving little scope for policy easing during downturns.
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    “However, the era of fiscal dominance appears to have ended in most EMEs,\u201d said the Bank for International Settlements in its June quarterly review, adding that emerging economies relied on both fiscal and monetary policy to lean more heavily against the business cycle.<\/p>\n

    But the BIS also cautioned that the example of crises-hit euro area countries, which pursued countercyclical policies in the past decade, shows that authorities can never become complacent and policies must be monitored continuously.<\/p>\n

    \u201cCountercyclicality is a necessary but not a sufficient condition for sound macroeconomic policy,\u201d the BIS said.<\/p>\n

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Read more at the BIS: <\/b>www.bis.org\/publ\/qtrpdf\/r_qt1206.htm<\/a>

www.CentralBankNews.info<\/span><\/div>\n
\"\"<\/div><\/p>\n","protected":false},"excerpt":{"rendered":"

By Central Bank News Most emerging market economies have successfully carried out countercyclical policies in the last decade, similar to advanced economies, contributing to the stability of the global economy, a study by the BIS said.     In the past, monetary policy in many emerging economies was handcuffed by expansionary fiscal policy in economic … <\/p>\n

Continue reading “EMERGING MARKETS NOW ABLE TO COUNTER DOWNTURNS \u2013 BIS”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-30004","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/30004","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/comments?post=30004"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/30004\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/media?parent=30004"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/categories?post=30004"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/tags?post=30004"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}