See Gunnella, V. and Schuler, T. (2022), “Implications of the terms-of-trade deterioration for real income and the current account”, Economic Bulletin, Box 1, Issue 3 and also Lane, P.R. (2022), “Inflation diagnostics”, ECB Blog, 25 November. 19.
On the other hand, amid bouts of financial market volatilities, ample liquidity in the system granted domestic borrowers with continued access to domestic financing to support economic activities. 1  The 10-year US Treasury traded at 2.137 pct. on 15 October 2014. BIS central bankers’ speeches  1  3.