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Yes, central banks have finally managed to restore a degree of ‘market functioning’ after full year or more of ‘extraordinary measures’ which mainly served to demonstrate a lack of understanding of basic monetary operations.
Note that only after automatic stabilizers began to reverse the slide at year end did the lending environment begin to recover as well.
- ECB sees â€˜turning pointâ€™ in lending conditions
- European Retail Sales Fall for 14th Straight Month, PMI Shows 2009
- German Unemployment Total Rose in July as Job Cuts Continued
- German July Retail Sales Decline at Slowest Pace in 14 Months
- Ifo Sees More Jobs Lost Among German Machinery Makers, FTD Says
- French Retail Sales Post Sharpest Drop in Four Months, PMI Says
- Italyâ€™s Retail Sales Fall as Job Cuts, Recession Curb Spending
- Italian Banks Agree on One-Year Loan Moratorium, MF Reports
- Spanish Consumer Prices Dropped by Record 1.4 Percent in July
- Spainâ€™s Recession Eased in Second Quarter, Central Bank Says
- German Bonds Decline as Stocks Advance, Italy Auctions Debt