The responsibility to boost economic activity is not the central bank's alone, said Benjamin Diokno, the Philippine central bank governor.
Central banks around the world eased monetary policies following the global financial crisis, with some sending their interest rates into negative territory. Policymakers have just started to move rates back to pre-crisis levels before they decided toThe reliance on monetary policy to boost growth is a topic widely touched on at the Milken Institute Asia Summit on Thursday, including at a panel discussion that Diokno participated in.He explained that the U.S.
Another panelist, Michael Sabia — the president and chief executive of Canadian investor CDPQ — said the "growth problem" facing the global economy today is not one that can be solved by monetary policy. He added that even after trillions of dollars were injected into the economy through easy monetary policies, global growth rates have continued to decline.
Governments and investors should instead look at ways to make economies more productive through investments in infrastructure and education — and be less preoccupied with what central banks do, he said.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bank of England holds interest rates amid intensifying Brexit uncertaintyCentral banks have been loosening monetary policy in recent weeks, amid intensifying worries about low inflation and slowing global growth.
Read more »
Japan Finance Minister Aso says monetary policy up to the BOJ to decideJapanese Finance Minister Taro Aso said on Friday that monetary policy was up to...
Read more »
US futures point to slightly higher openMonetary easing by the U.S. Federal Reserve this week and by the European Central Bank last week appears to have improved market sentiment.
Read more »
The Latest: Fed cuts key interest rate againBREAKING: The Federal Reserve cuts rates for a second time this year with promise to 'act as appropriate' to sustain economic expansion. The Fed's move will reduce its benchmark rate by an additional quarter-point to a range of 1.75% to 2%.
Read more »
European markets seen slightly lower as investors await BOE rate decisionCentral banks around the world have been loosening policy to counter the risk of low inflation and recession.
Read more »