Central bank challenges as the era of cheap money enters a new phase

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Almost five years since the US Federal Reserve embarked on its first quantitative easing (QE) programme of asset purchases in response to the global financial crisis, investors are worrying what will happen when the Fed and other major central banks eventually turn off the liquidity taps. This report assesses the outlook for monetary policy in the major economies in the next few years, and asks whether market jitters concerning the return to more normal levels of liquidity and higher interest rates are justified

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Central banks report; monetary policy – The Economist Intelligence Unit

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