The headquarters of the People’s Bank of China in Beijing. Central banks across the globe have come under pressure to expand their balance sheets and pursue sometimes risky measures to help keep their economies afloat during the Covid-19 pandemic. Photo: ReutersThe headquarters of the People’s Bank of China in Beijing. Central banks across the globe have come under pressure to expand their balance sheets and pursue sometimes risky measures to help keep their economies afloat during the Covid-19 pandemic. Photo: Reuters
The headquarters of the People’s Bank of China in Beijing. Central banks across the globe have come under pressure to expand their balance sheets and pursue sometimes risky measures to help keep their economies afloat during the Covid-19 pandemic. Photo: Reuters
Aidan Yao
Opinion

Opinion

Macroscope by Aidan Yao

Zero interest rates, heavy debt will be new normal in coronavirus recovery

  • The lessons learned from the 2008 global financial crisis suggest shutting off the liquidity tap could prove more challenging than opening it
  • Ultra-accommodative monetary policy is here to stay, with central banks also engaging in riskier asset purchases and even negative interest rates

The headquarters of the People’s Bank of China in Beijing. Central banks across the globe have come under pressure to expand their balance sheets and pursue sometimes risky measures to help keep their economies afloat during the Covid-19 pandemic. Photo: ReutersThe headquarters of the People’s Bank of China in Beijing. Central banks across the globe have come under pressure to expand their balance sheets and pursue sometimes risky measures to help keep their economies afloat during the Covid-19 pandemic. Photo: Reuters
The headquarters of the People’s Bank of China in Beijing. Central banks across the globe have come under pressure to expand their balance sheets and pursue sometimes risky measures to help keep their economies afloat during the Covid-19 pandemic. Photo: Reuters
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