The October 2014 Global Financial Stability Report (GFSR) finds that six years after the start of the crisis, the global economic recovery continues to rely heavily on accommodative monetary policies in advanced economies. Monetary accommodation remains critical in supporting the economy by encouraging economic risk taking in the form of increased real spending by households and greater
It also reports on any actions that have been taken to manage risks to financial stability and contains box article(s) on topics of special interest. This publication is intended to promote greater awareness on issues and developments affecting financial stability. This document uses data available up to 30 June 2022, unless otherwise stated.
2 Macro-financial stability frameworks and external financial conditions enhancing resilience. 1 The focus is on the challenges from swings in external financial conditions, which have often been a key risk factor for macro-financial stability, in particular for EMEs but also for some AEs. Reflecting these challenges and their
With increasing fiscal challenges in the aftermath of the global financial crisis, multilateral surveillance of fiscal developments, a key part of the IMF’s surveillance responsibilities, has gained further importance. In response, the Fiscal Monitor was launched in 2009 to survey and analyze the latest public finance developments, update fiscal implications of the crisis and medium-termGlobal Financial Stability Notes. Global Financial Stability Notes are short, topical, analytical notes written by staff in the IMF’s Monetary and Capital Markets Department, analyzing recent developments in the financial and monetary sectors and assessing their macro-financial stability implications. The views expressed in these notes are
In the United States, investors appear to put high odds on inflation being above target at around 3 percent. At the same time, financial conditions—as proxied by our index that summarizes financing costs faced by firms and households in housing, credit, and equity markets—have eased notably in the United States and euro area in recent quarters.Source and notes: See Section 3.1 of the Financial Stability Report – July 2023. Non-bank financial institutions continue to need more resilience. We are working internationally to achieve this. Market-based finance is an important source of funding for UK corporates (see Chart 5).
Some of these activities are also discussed elsewhere in this annual report. A broader set of economic and financial developments are discussed in section 2, "Monetary Policy and Economic Developments," with the discussion that follows concerning surveillance of economic and financial developments focused on financial stability.