Of course, there is no shortage of fundamental issues to worry about: another downgrade to the outlook for global growth, uncertainty about the economic transition in China, the pace of normalization in the United States, worries about Europe, worries about Japan, just to cite a few. Financial markets have a love-hate relationship with volatility, and central bankers usually try to see through it all.
In this context, policy options that are apparently reasonable  1  Shares based on PPP‐adjusted figures for GDP. 2  Figures provided by, or calculated with data from, International Monetary Fund (2015): World Economic Outlook Database, October. See also Mohan, Rakesh and Muneesh Kapur (2015): “Emerging Powers and Global Governance: Whither the IMF?”, IMF Working Paper No. WP/15/219, October.