Due to various problems including lengthy and stringent process to access credit, the facility was not fully utilised and the European Investment Bank withdrew the scheme in 1998. Conclusion To conclude, we all should remind ourselves that the accelerated pace at which the world is changing is presenting many challenges for small and medium enterprises in the Asia-Pacific region.
Just over 10 years ago, the Federal Open Market Committee (FOMC, or the Committee) lowered the federal funds rate close to zero, which we refer to as the effective lower bound, or ELB. Unable to lower rates further, the Committee turned to two novel tools to promote the recovery. The first was forward guidance, which is communication about the future path of interest rates.