Monetary policy coordination among central banks desirable during crises
As the world stares at the prospect of a recession, the need for monetary policy coordination among central banks is a hotly debated topic. It has been proven that monetary policy coordination among nations helps reduce volatility in financial markets, improve global economic stability, increase the efficiency of global financial markets, and reduce the cost of international transactions.
Nations, however, show reluctance to cede control over their monetary policy, especially in times of crises. Policy think tank EGROW Foundation brought together some of the foremost experts on monetary policy to discuss the pros and cons of monetary policy coordination among central banks.