Tobias Adrian, director of the monetary and capital markets department at the International Monetary Fund, holds up a copy of the Global Financial Stability Report at a news conference during the annual meetings of the IMF and World Bank Group in Washington, on October 16. Photo: Bloomberg
Opinion
Opinion
Macroscope
How a wave of risky lending has set the world up for another financial crisis
- Unsafe lending continues despite regulations, which merely pushed it into other sectors as big banks withdrew. This has left the global economy on the brink of a new disaster, in a cycle set to continue without greater oversight
Tobias Adrian, director of the monetary and capital markets department at the International Monetary Fund, holds up a copy of the Global Financial Stability Report at a news conference during the annual meetings of the IMF and World Bank Group in Washington, on October 16. Photo: Bloomberg
A view of the Federal Reserve building in Washington. In one of the most important shifts in investor sentiment since the 2008 financial crisis, the expectation of more monetary stimulus is no longer enough to lift stock markets. Photo: AFP
Opinion
Opinion
Macroscope
Investors’ loss of confidence in monetary easing comes at a worrying time for the world economy
- In Europe and America, central bankers are divided over the need for loose monetary policy. More importantly, market regard for their ability to boost a flagging economy has fallen dramatically, undermining the effectiveness of such policies
A view of the Federal Reserve building in Washington. In one of the most important shifts in investor sentiment since the 2008 financial crisis, the expectation of more monetary stimulus is no longer enough to lift stock markets. Photo: AFP