Economics
Central Banks Poised to Start Rowing in One Direction Again
- ECB, BOE, BOJ all in early stages of pondering exit details
- Fed is far ahead, but no longer moving down opposite track
ECB Upgrades Risk Assessment to 'Broadly Balanced'
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The world’s central banks aren’t moving in harmony just yet, but at least the discord is beginning to fade.
The European Central Bank on Thursday ruled out further interest-rate cuts in a sign that it’s cautiously edging toward an exit from stimulus. Bank of England officials are considering gradually removing accommodation in coming years, though a move is some way off and the assessment will have to take into account the fallout from the country’s messy election outcome. And while Japan’s central bank has no intention of removing stimulus soon, it is said to be re-calibrating communications to acknowledge that it is thinking about how to handle an eventual policy change.