Economics
The End of the Monetary Illusion Magnifies Shocks for Markets
- Central banks no longer have as much room to deliver stimulus
- HSBC says currencies most sensitive to policy in 15 years
Market Turmoil a Reflection of Confused Policies: Darda
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Central bankers are no longer the circuit breakers for financial markets.
Monetary-policy makers, market saviors the past decade through the promise of interest-rate reductions or asset purchases, now lack the space to cut further -- if at all -- or buy more. Even those willing to intensify their efforts increasingly doubt the potency of such policies.