WASHINGTON: Rapid actions by policymakers and major central banks after banking collapses in the United States and Switzerland have eased market stress to some extent but continued vigilance is warranted, the International Monetary Fund said on Thursday.

The IMF is continuing to monitor developments closely and is assessing the potential implications for global financial stability, spokesperson Julie Kozack told reporters.

Bank of England hikes rate despite banking turmoil

She said detailed assessments of the implications of recent developments for global financial stability and the global economic outlook would be released next month in conjunction with the IMF and World Bank spring meetings.

Kozack noted that the rapid response policy makers and central banks included coordinated action by major central banks to enhance the provision of U.S. dollar liquidity.

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“These actions have eased market stress to some extent, at the same time, uncertainty remains high and continued vigilance is warranted,” Kozack said.

The Bank of England on Thursday followed the U.S. Federal Reserve and the Swiss National Bank in hiking interest rates, as policymakers ploughed on with their fight against inflation despite pockets of instability that emerged in the global banking system this month.