Similarly, during the crisis, spillovers from the general monetary easing in advanced economies have also created vulnerabilities, while there are also global financial-stability implications of prolonged accommodation.
The Bank for International Settlements and the International Monetary Fund are studying this topic under the guidance of the G20, looking at both price and quantity based indicators, core and non-core indicators, with the objective of developing a suite of indicators that can be monitored and considered for inclusion in surveillance exercises of the IMF. 3.