WASHINGTON, Sept. 13 (Xinhua) -- Monetary policy has played a key role in helping contain the eurozone debt crisis and support growth in advanced economies, but it should not be the only policy tool to revive global growth, International Monetary Fund (IMF) chief spokesman Gerry Rice said on Thursday.
Steps taken by the European Central Bank (ECB), the U.S. Federal Reserve and other central banks in advanced economies have played an "appropriate and important" role in bringing the world economy back to recovery, Rice told reporters at a regular IMF press briefing here.
But "monetary policy of course is not the only element," and there are other important areas for reform efforts, he added.
Since the onset of the global financial crisis and the eurozone debt crisis, central banks in advanced economies have rolled out rounds of unconventional monetary easing measures including large- scale bond-buying programs. Some experts worry that the huge amount of liquidity triggered by these measures might push up inflationary pressure in the future and increase inertia of adopting tough structural reforms in those countries.
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