LINDAU cheap air force 270 white , Germany, Aug. 23 (Xinhua) -- "Research has confirmed that central banks are not powerless at the effective lower bound," President of the European Central Bank (ECB) Mario Draghi said here Wednesday, reiterating the effectiveness of non-standard monetary policy taken by central banks on both sides of the Atlantic since the last financial crisis.
Draghi delivered a keynote speech at the 6th Lindau Nobel Laureate Meeting on Economic Sciences cheap air force 270 black , saying that central banks can continue pursuing their price stability mandates even in the most adverse circumstances, as long as they are willing to explore non-standard policy avenues including forward guidance, large-scale asset purchase, etc.
"While forward guidance is a useful instrument cheap air force 270 , recent research has highlighted that its effectiveness can be improved if combined with other non-standard monetary policies," he added.
ECB has kept the Eurozone base interest rate at historical lowest level of zero for 18 consecutive months, while buying bonds of over 2,000 billion euros as of July cheap air max 93 shoes , which provided the euro area with impulse in inflation recovery as well as favorable financing conditions to corporations and households.
"Large-scale asset purchases can ease these constraints and increase investors' risk-bearing capacity, leading to a portfolio rebalancing towards risky assets and to strengthened lending activity for banks," Draghi said.
In addition, the ECB head regarded the unconventional tool of monetary policy -- "Outright Monetary Transactions"(OMT) -- a program to purchase bonds issued by Eurozone member-states in secondary sovereign bond markets under certain conditions cheap air max 180 womens , which was announced by the ECB in 2012 but was never used so far, as effective too.
"That the ECB had the tool at its disposal was sufficient to anchor expectations at the 'good' outcome," Draghi said, concluding that policy actions undertaken in the last ten years in monetary policy and in regulation and supervision have made the world more resilient.
"But we should continue preparing for new challenges cheap air max 270 flyknit ," adding that policies, especially monetary policy, needed to be adjusted, even though it was never easy cheap air max 270 womens , when the world changes as it did ten years ago.
17 Nobel Laureates participate in the four-day Lindau Meeting on Economic Sciences kicked off Wednesday. They meet with 350 young economists from 66 countries and regions.
The Lindau Nobel Laureate Meetings, originally as European initiative of post-war reconciliation among scientists, focus alternately on physiology and medicine, physics cheap supreme air max 98 , chemistry and economic science, aiming to foster the exchange among scientists of different generations, cultures, and disciplines.
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LONDON， Aug. 8 (Xinhua) -- A lecturer in American history at Britain's University of Southampton has hit out at an English rugby club over its ""Red Indian"" branding.
Manhattan-born Dr Rachel Herrmann has called on Exeter Chiefs rugby club to drop its theme saying it is insulting to Native Americans. The club， based in the county of Devon， currently play in the English Premiership， the top level of domestic rugby union in England.
Herrmann's intervention has generated a hostile debate in local media along England's south coast， with fans of the club， insisting the branding should stay.
The row resembles campaigns in the US calling for some of the big-name clubs， such as the Atlanta Braves and the Washington Redskins， to drop names associated with Native Americans.
At Exeter， some fans go to games with ""war paint"" on their faces and feathered head-dresses， cheering on the club's mascot， Big Chief at their home base， Sandy Park. Their second team is known as the Exeter Braves.
Herrmann has criticised the club for using the imagery in its branding， and merchandise such as its 'Little Big Chief' soft toy. She also takes issue with fans wavineed to remember
Herrmann told the Express and Echo newspaper in Exeter: ""The Chiefs' name and their apparel are problems because they reference the practice of scalping， they erase Native Americans today， and they evoke a history of violent settler colonialism.
""We that pretending to be Native American， whether through dressing like some composite picture of what an Indian should look like or by calling your team the Chiefs， stems from a long legacy of anti-Indian violence， land grabs， and ethnic cleansing. The Chiefs rewrote their own history in 1999 (when the current branding was introduced). Perhaps another rebranding is in order.""
The furore erupted after an article by Herrmann appeared in an on-line website， Imperial and Global Forum， under the heading: ""Playing Indian"": Exeter Rugby in a Postcolonial Age"". The blog is run by the Center for Imperial and Global History at the University of Exeter.
In the article， Herrmann wrote: ""In the nineteenth century， white Americans played Indian at the same time that they tried to convince themselves that actual Indians had disappeared-they hadn't. And although the U.S. government never formalized a policy of genocide to make Native Americans disappear， the 1780s and 1790s were ""marked by genocidal acts"".
Officials at Exeter Chiefs told Xinhua Monday: ""We are not making any comment on this，"" but fans have been quick to defend the name and the branding with almost 9 out of 10 in a newspaper poll saying it should .
