Broad money less supportive of asset prices in 2018

 Broad money growth in all four large advanced economies is healthy, but slowing Crucially, the growth of non-bank financial institutions’ money holdings is subdued Money data point to continued but somewhat less support for assets As we enter into 2018, broad money growth in all major advanced economies is presenting…

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Central Banking – Responsibility without Power

So far in this series of articles, we have considered the immediate challenges in front of central banks, which in a nutshell revolve around the normalisation of monetary policy and the re‑establishment of a more orthodox relationship with markets.  In this final article we consider the longer term outlook, once…

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