Central banks are already preparing to underwrite or monetise huge volumes of government debt. Photo: Shutterstock
Opinion
Opinion
Macroscope by Anthony Rowley
Central banks riding to the rescue of crashing debt markets must think twice
Aside from the moral hazards of such a massive bailout, the risk is that a wall of central bank money meeting slumping growth and output can cause the greater damage of hyperinflation
Anthony Rowley is a veteran journalist specialising in Asian economic and financial affairs. He was formerly Business Editor and International Finance Editor of the Hong Kong-based Far Eastern Economic Review and worked earlier on The Times newspaper in London