ZAGREB, Nov 8 (Hina) - This year's relatively high increase of monetary aggregates, a high liquidity level in the banking system and low interest rates were not accompanied by the desired pace of economic recovery and employment
growth, the Croatian National Bank (HNB) Council said at a session on Wednesday. This clearly indicates the limited potential of the monetary policy and confirms that a more expansive monetary policy cannot substitute for other measures necessary for the stimulation of new investments and structural adjustments, disburdening the economy and the efficient functioning of the rule of law. The HNB Council, which held the session under the chairmanship of HNB Governor Zeljko Rohatinski, accepted a report on economic and monetary movements in the first half of this year.(hina) jn rml
ZAGREB, Nov 8 (Hina) - This year's relatively high increase of
monetary aggregates, a high liquidity level in the banking system
and low interest rates were not accompanied by the desired pace of
economic recovery and employment growth, the Croatian National
Bank (HNB) Council said at a session on Wednesday.
This clearly indicates the limited potential of the monetary policy
and confirms that a more expansive monetary policy cannot
substitute for other measures necessary for the stimulation of new
investments and structural adjustments, disburdening the economy
and the efficient functioning of the rule of law.
The HNB Council, which held the session under the chairmanship of
HNB Governor Zeljko Rohatinski, accepted a report on economic and
monetary movements in the first half of this year.
(hina) jn rml