2014-04Lebanon’s Monetary Survey 2013
Promoting economic growth and financial stability appear on nearly every central bank’s monetary policy agenda. With these broad themes in mind, the particularities of each economy are what set monetary policies apart. In advanced economies, namely the euro area, Japan, the United Kingdom and the US, fighting the worst recession since the 1930s compelled the major central banks to resort to what the International Monetary Fund (IMF) dubbed as “MP-Plus”, a combination of exceptionally low interest rates and unconventional policy measures.
In Lebanon, the central bank or Banque du Liban (BDL)’s policy remained true to the objectives it has set upon itself: Boosting Economic Growth, Preserving Exchange rate stability and maintaining the soundness of the financial system…