As you all know, there are four items under current account, namely, trade in goods, trade in services, income (including interest income and dividend income) and current transfers (such as remittance of overseas Chinese).
It is sometimes claimed that monetary policy may be ineffective against global disinflationary forces or can only raise inflation at the cost of intolerable side effects, and that as a result it should not push too hard to achieve its goal and instead extend its policy horizon far into the future.