So for the central banks that reviewed monetary policy settings it was very much a case of wait and see, with the banks largely viewing current settings as appropriate. Indeed if holding rates steady was the theme, the BRIC economy Brazil was consistent with this even though it increased rates, in that the Brazilian central bank slightly altered the tone of its statement; perhaps hinting that it is near the end of its tightening cycle. Another theme within this was strong vigilance of risks, particularly those emanating from the Euro area, with still high levels of uncertainty as to how the crisis will unfold.
Listed below are some of the key quotes from central bank monetary policy statements and media releases from the week ending 23 July 2011:
Article source: http://www.centralbanknews.info/2011/07/monetary-policy-week-in-review-23-july.html