Stock Shock: The Threat to Global Growth If Equities Slide Again
- Oxford Economics sees recent sell-off similar to 1998 decline
- Consultancy reckons central banks can only offset some of drop
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Central banks may have rediscovered their mojo in stock markets.
After speculation earlier this year that easier monetary policy no longer had what it took to lift equities, last week’s stimulus shifts from the European Central Bank and the People’s Bank of China helped propel the MSCI World Index to its highest since the middle of August.