Central banks risk amplifying tightening cycle
A study group investigating sovereign debt management issues on Monday warned that central banks and debt managers may "amplify" the effects of a monetary policy tightening cycle when the time comes to reverse quantitative easing programmes.
The report, submitted by a study group on sovereign debt management at the request of the Committee on the Global Financial System (CGFS), a global central bank forum, said although sovereign debt management choices during the crisis "did not constrain"
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