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Given all this, the economy's below-trend growth for the third year running suggests that policy weapons may have lost some of their power.
Some members of the E.C.B. Governing Council may well have been concerned that a rate cut would use up one of the last policy weapons they have left.
Stripped of all its macroeconomic policy weapons, Germany now runs a serious risk of following Japan into deflation.Friend or foe?Deflation is not necessarily bad.
Instead, finance ministers signed up to a pithy list of bullet points, pledging to unleash all the policy weapons at their disposal against the crisis.
That is tribute to the credibility accrued by the region's economic policymakers.The better-run countries of Latin America also have more policy weapons available than most rich-world economies.
Climate change, health care policy, weapons of mass destruction, an aging infrastructure, stem cell research, endangered species, space exploration all affect our lives as citizens and human beings in practical and profound ways.
Similar(53)
The pilot has emerged as the mayor's signature policy weapon.
Her death was — and continues to be — a major policy weapon for politicians seeking tougher immigration policies.
But after huge military spending on the Second World War — arguably the biggest fiscal-stimulus program in history — helped bring an end to the Depression, fiscal stimulus became a key policy weapon.
Dominique Strauss-Kahn, the head of the IMF, this week warned against using currencies as a policy weapon.Wishing that your currency would decline is not the same as making it do so.
Likewise, an idea that Corbyn floated in the 2015 leadership race - People's quantitative easing - would provide a useful policy weapon in the event of another severe financial crisis.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com