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BEIJING, Oct.10 (Xinhuanet) --At Thursday's IMF meeting, global financiers said central banks have little room for error-- in a low-growth world with growing risks.
Major concerns are over-leveraged and commodity-dependent emerging economies and a slowing China. IMF chief Christine Lagarde said despite 7 trillion US dollars in quantitative easing since the global financial crisis, the world is stuck in a "new mediocre" growth pattern.
The IMF meeting comes as the Bank of Japan is set to extend its money printing program. The European Central Bank is also expected to extend quantitative easing, while the two major central banks closest to raising rates, the U.S. Federal Reserve and the Bank of England, are holding fire. Many emerging markets are now facing difficulties.
Governor of the Central Bank of Brazil Alexandre Tombini, who has maintained a no rate hike stance, said that some temporary measures would have to be taken to control the situation. While Governor of the Banco De Mexico Agustin Carstens stressed the importance of macropolicy.
(Source: CNTV.cn)
