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Source: bis.org ยท
Part 3 of "International banking and financial market developments" (BIS Quarterly Review), March 2015, by Claudio Borio, Magdalena Erdem, Andrew Filardo and Boris Hofmann. Largely unexpected, a wave of monetary easing over the past few months has taken centre stage in global financial markets. Amid plunging oil prices and rising foreign exchange tensions, central banks in both advanced and emerging market economies provided further stimulus.

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