The Way the World Thinks About Easy Monetary Policy Is Changing

It happened so quickly.

While analysts and economists had long debated the efficacy of quantitative easing — the central bank bond purchase programs aimed at lowering borrowing costs to stimulate the economy and stoke inflation — the narrative surrounding such efforts is rapidly shifting. In recent months, there's been a growing recognition of the limits and downsides to this particular form of monetary easing, underscored by the Bank of Japan's policy changes announced on Wednesday.