Moreover, in certain circumstances, it can be perceived as a source of stand-alone uncertainty on macroeconomic dynamics. On the fiscal side, not long ago in my country we used to have not only the central bank but the financial system financing the treasury with no limits whatsoever.
BIS Review 103/2008  1  On behalf of RBI, I would like to assure our continued commitment to orderly and well thought out development of financial markets, while maintaining financial stability and integrity. 2  BIS Review 103/2008