Under these difficult circumstances, what kind of monetary and fiscal policies are desirable is something that ultimately each country needs to decide for itself based on its own economic and financial conditions.
In terms of the basic stance of policy conduct, advanced economies at present are placing priority on economic recovery, while emerging economies are beginning to pay greater attention to the potential overheating of their economies. What is important in the end is that the global economy as a whole is brought back to a sustainable  BIS Review 11/2010  3  growth path.