Jun 04, 2013 17:51
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The truth is that we know relatively little about how central bank actions have affected global financial flows and prices - let alone, how the process will work in reserve. Speaking at the same conference as Mr Caruana in Korea, Benoît Cœuré, ECB executive board member, argued the debate “focuses too much . . . on the negative externalities of domestic monetary policy decisions” and that better economic growth and deeper financial markets had also spurred investment in emerging market economies.
Чуют.