Monetary policy less effective than structural reform, Davos panellists argue
Ex-Bundesbank president Weber foresees four rate rises by Fed this year
Structural reform, rather than monetary or fiscal stimulus, will restore growth rates in large economies, the governor of the Reserve Bank of India said today (January 20). Monetary stimulus did not "cut it" as it once had, Raghuram Rajan said at a roundtable discussion at the World Economic Forum in Davos, Switzerland.
Axel Weber, a former president of the Deutsche Bundesbank, agreed, saying monetary and fiscal stimulus had largely "run their course" in Europe. The reforms of the German economy
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