Remedios Varo, Banqueros en accion, Bankers in action
From the IMF’s World Economic Outlook…
“A Policy-Driven, Multispeed Recovery“…
~~~ “Driving the global rebound was the
extraordinary amount of policy stimulus.
Monetary policy has been highly expansionary,
with interest rates down to record lows in most
advanced and in many emerging economies,
while central bank balance sheets expanded to
unprecedented levels in key advanced
economies. Fiscal policy has also provided
major stimulus in response to the deep
downturn. Meanwhile, public support of the
financial sector has been crucial in breaking the
negative feedback loop between the financial
and real sectors. At the same time, there are still
few indications that autonomous (not-policy induced)
private demand is taking hold, at least
in advanced economies.