Markets Swing on Trade and Monetary Policy

14 Pages Posted: 14 Oct 2019

Date Written: September 22, 2019


Starting in May, prices of risky assets seesawed in response to unexpected turns in trade policy and adjustments to monetary policy.1 The rally in equity and credit markets seen in early 2019 reversed course in May on the prospect of higher tariffs on US-China trade and US imports from Mexico. Facing weakening growth and subdued inflation, central banks in advanced economies (AEs) as well as emerging market economies (EMEs) eased policy to pre-empt a further deterioration.

Suggested Citation

Settlements, Bank for International, Markets Swing on Trade and Monetary Policy (September 22, 2019). BIS Quarterly Review, September 2019, Available at SSRN:

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