Have central banks maxed out on monetary policy?

Irish Times | Aug 19, 2019 at 4:40 PM
  • The Bank of Japan’s decision to reduce rates to zero to reboot its flagging economy in 1999 was seen as radical at the time, and looked on by US and European central bankers as a kind of Japanese idiosyncrasy not to be tried anywhere else.
  • Rather worryingly for the US and Europe, Japan, 20 years later, is still locked into this negative-rate regime.
  • It could also restart the quantitative easing (QE) programme, potentially setting out on another round of bond-buying to stoke further lending and investment.