Most economies are still finding it difficult to overcome the negative consequences of the global financial crisis. It has changed the global economic environment; economic growth is still going through a downward spiral, while the foundations of monetary policy and financial stability are constantly challenged. Massive stimulus programmes were adopted to mitigate the downturn, but that could not prevent some economies from slipping into a deep recession. Policy rates rapidly hit the zero lower bound and large swings in capital inflows complicated macroeconomic management. As a result, new monetary policy tools were introduced to remedy the economic problems.
In Jordan, as was the case elsewhere around the world, the global financial crisis and regional turmoil had a significant impact on economic growth and macroeconomic stability.
