Drop the pilot, not the money he he
Helicopter drops may have already arrived in stealth form, as monetary policy is forced into truly uncharted territory
By Mehreen Khan
19 MARCH 2016 • 7:00PM
The lords of finance are losing their touch.
Institutions which dragged the world from its worst depression since the early 20th century are finally seeing their magic desert them, if conventional wisdom is to be believed.
Eight years on the from the Great Recession, voices as authoritative as the International Monetary Fund and the Bank of International Settlements – dubbed the ‘central bank of central banks’ – have called time on the era of extraordinary monetary policy.
Having hoovered up $12.3 trillion (£8.5 trillion) in financial assets and carried out 637 interest rate cuts since 2008, central banks have been stunned back into action in the last six weeks.
The Bank of Japan kicked off a new round of global easing with its…
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