A woman waits for her train after attending a Coming of Age Day ceremony in Tokyo. Japan’s central bank maintained its loose monetary policy on Friday and downgraded its view on inflation, signalling that it will lag well behind its US and European peers in rolling back crisis-era stimulus. Photo: Reuters
Nicholas Spiro
Opinion

Opinion

Nicholas Spiro

When the next recession hits, central banks in the US, Japan and Europe simply won’t have the tools to fight it

Nicholas Spiro says the global economy is looking shaky amid escalating trade tensions, but the worse news is that the monetary policies already in place to stimulate demand and the explosion in public indebtedness will severely limit policy actions to fight a downturn

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A woman waits for her train after attending a Coming of Age Day ceremony in Tokyo. Japan’s central bank maintained its loose monetary policy on Friday and downgraded its view on inflation, signalling that it will lag well behind its US and European peers in rolling back crisis-era stimulus. Photo: Reuters
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