|
|
Mervyn King, the former governor of the Bank of England, once said that the central banks should aspire to dullness because, “boring is best”. When he made these remarks at the turn of the century, he could not have anticipated the way central banking would evolve. The US Federal Reserve now has a larger balance sheet than the combined market capitalization of the world’s 10 biggest companies.
Boring is so last century.
Central banks have always been big economic actors, setting short-term interest rates and occasionally intervening to manage their currencies.
Access intelligence that drives action
To unlock this research, enter your email to log in or enquire about access
