On the other hand, in advanced economies, there are growing concerns about the slowing momentum of recovery, stubbornly high rates of unemployment and persistent output gaps. Although specifics vary, the G-3 – America, Europe and Japan – are caught in fierce policy debates on stimulus and exit strategies.
[6]  See RBA, APRA, ASIC (2019), ‘Regulators Urge Financial Institutions to Plan for LIBOR Transition, Joint Media Release, 9 May. Available at <https://www.rba.gov.au/media-releases/2019/mr-19-12.html>. [7]  See ISDA (2018), ‘ISDA Publishes Final Results of Benchmark Fallbacks Consultation’, Press Release, 20 December. Available at <https://www.isda.org/2018/12/20/isda-publishes-final-results-of-benchmark-fallback-consultation/> and ISDA (2019), ‘ISDA Publishes Preliminary Results of Supplemental Benchmark Fallbacks Consultation’, Press Release, 30 July. Available at <https://www.isda.org/2019/07/30/isda-publishes-preliminary-results-ofsupplemental-benchmark-fallbacks-consultation/>.