IMF urges central banks to be aware of impact on others
WASHINGTON (Reuters) - The International Monetary Fund on Thursday urged central banks to keep in mind the consequences their actions have on other countries, echoing the recent calls for greater monetary policy coordination.
"In this increasingly interconnected world, the actions of one country obviously have impacts and consequences for others," IMF spokesman Gerry Rice told reporters.
Indian central bank governor Raghuram Rajan last week said the United States in particular should focus on the global impact of the drawdown in its massive monetary stimulus.
But Rice said the U.S. Federal Reserve clearly communicated its recent decision to start reducing its monthly bond purchases.