Commentary: Central banks face ‘hot breath’ over QE
By David Marsh in New York
Political constraints on the US Federal Reserve and the European Central Bank restarting large-scale asset purchases to combat a future recession will be much greater than after the 2008 financial crisis. Interest rates are unlikely to rise high enough during the current tightening cycle to quell any downturn simply with rate cuts.
Experts recognise that QE will be part of central banks’ toolkit for dealing with the next dip. With the ‘hot breath’ of politicians ‘on central bankers’ shoulders’, leeway for purely technocratic solutions is constrained.
Read the full commentary on the website.
Meeting: Barings-OMFIF seminar on technology, investment and the future of cities
This year’s OMFIF-Barings panel explores how the world’s cities propel global growth. A panel of experts, policy-makers and investors will discuss how new technologies will make cities more sustainable and examine the trade-offs between privacy, security and convenience for a generation of urban denizens that prizes all three. Speakers include Heenam Choi, chief executive officer of the Korea Investment Corporation.
Request to attend the meeting.