As central banks turn to the well-worn easy money policy playbook, we ponder the limits to these policies and whether they may cause future problems.
After several years that saw central banks on a path back to normality—some raising rates gradually, others holding steady—in 2019 global central banks shifted back into easing mode by cutting interest rates and/or restarting asset purchase programs. And with that, the “hunt for yield” from earlier in the decade is back on.
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