Major central banks have bolstered their monetary policies since the start of the global financial crisis by adopting new strategies and ‘inventing’ new instruments to intervene in the markets. This has not proven to be a temporary measure. The shrinking of the velocity of money and reduced availability of fiscal policies has forced central banks to remain embedded in the market trenches to avoid a major collapse of the global economy. To my mind, central banks are now the new ‘factotum’, like
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