As investors temper their optimism with caution, we look at monetary policy and what central banks could do to prolong the economic expansion.

 

The limits of monetary policy

 

The global economic expansion is marking its tenth birthday, yet celebrations have been dampened by some uninvited guests: ongoing U.S.-China trade tensions and disappointing economic data. Investors are growing apprehensive about a potential hangover, with financial markets anticipating the need for policy stimulus across advanced economies to keep the party going.

 

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