Moody’s Analytics economists have extensive experience in monitoring and forecasting global monetary policy and its effect on the economy and financial markets. Monetary policy has important implications for the economy and financial markets and can impact how long the expansions can last. As of 2017, many central banks are in the midst or set to begin a tightening cycle and given the unconventional policies used during the past recession mean that this tightening cycle will be unlike those in the past.