A trader looks anxiously at screens during the opening bell at the New York Stock Exchange in February 2020. If the Fed has to tread lightly for fear of frightening the markets, other central banks such as China’s are being less reticent. Photo AFP A trader looks anxiously at screens during the opening bell at the New York Stock Exchange in February 2020. If the Fed has to tread lightly for fear of frightening the markets, other central banks such as China’s are being less reticent. Photo AFP
A trader looks anxiously at screens during the opening bell at the New York Stock Exchange in February 2020. If the Fed has to tread lightly for fear of frightening the markets, other central banks such as China’s are being less reticent. Photo AFP
Neal Kimberley
Opinion

Opinion

Macroscope by Neal Kimberley

Why markets must brace now for the post-pandemic monetary policy shift

  • There are growing signs policymakers are considering whether the measures adopted to lessen the economic impact of the pandemic have outlived their usefulness
  • The loose policy environment that has driven the global recovery cannot last forever, and markets need to factor in this impending shift

A trader looks anxiously at screens during the opening bell at the New York Stock Exchange in February 2020. If the Fed has to tread lightly for fear of frightening the markets, other central banks such as China’s are being less reticent. Photo AFP A trader looks anxiously at screens during the opening bell at the New York Stock Exchange in February 2020. If the Fed has to tread lightly for fear of frightening the markets, other central banks such as China’s are being less reticent. Photo AFP
A trader looks anxiously at screens during the opening bell at the New York Stock Exchange in February 2020. If the Fed has to tread lightly for fear of frightening the markets, other central banks such as China’s are being less reticent. Photo AFP
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Neal Kimberley

Neal Kimberley

UK-based Neal Kimberley has been active in the financial markets since 1985. Having worked in sales and trading in the dealing rooms of major banks in London for many years, he moved to ThomsonReuters in 2009 to provide market analysis. He has been contributing to the Post since 2015 and writes about macroeconomics from a market perspective, with a particular emphasis on currencies and interest rates.