Mexican deputy Sánchez takes stock of easy policy in advanced economies

Manuel Sánchez explains how extraordinary monetary accommodation may be generating costs

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Sánchez discusses impact of unconventional policies on emerging markets

Large central bank balance sheets and negative interest rates may be generating "significant" costs and risk, Manuel Sánchez, a Bank of Mexico deputy governor said on May 13.

"The combination of negative rates and balance sheet expansion has resulted in ever-increasing proportion of government debt carrying a negative yield," he told an audience at the National Asset-Liability Management conference in Mexico City.

Looking at a sample of eight European countries with at least one negative rate

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