Looking Forward: Exiting Unconventional Monetary Policy

It is neither likely nor desirable for central banks to exit from unconventional monetary

policies in the near future. However, it is important that central banks develop an exit

strategy, evaluate the merits of new and old monetary policy tools and communicate with the

public so as to maintain financial stability, support economic growth and minimize future

inflationary risks. Central bank communication policy will turn out to be crucial and more

challenging than it was before the crisis.

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