COVID-19 and Central Banks

For a long time many have been wondering whether Central Banks had any effective ammunition left to combat the next crisis. The next crisis is here in the form of a global pandemic.

In this excerpt from our conference on monetary policy held last November, Martin Wolf explains why central banks can never run out of ammunition – if they are willing to use it.

Will this crisis be enough to unleash central bank action on a scale never seen before?

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