Is the era of free money over?

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This issue of our Finance Outlook focuses on monetary policy – in the lead-up to our Monetary Policy Conference on November 27th.

  • While it is tempting to view monetary policy as a complex subject best left to economists and finance specialists, the reality is that what central banks do affects all of our lives
  • The last decade has seen an unprecedented level of dependence on monetary policy as governments have been either unable or reluctant to use fiscal stimulus to support economic activity
  • We examine whether loose monetary policy actually had the intended effects or whether other factors are more important drivers of business investment
  • Has the era of free money come to an end? Or should we prepare for ever more ‘crazy’ central bank interventions?
  • Central bank independence, once considered sacrosanct in many countries, is coming under increasing scrutiny and challenge. Where will it end?

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