Let me give you a few examples:  7  • Advanced economies need to be fully aware of the international repercussions of their monetary policy actions. Failure to recognize the extent and magnitude of the associated spillovers certainly exacerbates the difficulties that the economies abroad, particularly emerging markets, may face.
7 This also complicates life for advanced economies, since spillovers can certainly have a boomerang effect. Although some progress has been made in this regard, this is still far from satisfactory.