Central Banks Are Redrawing the Map Out of the Crisis Era
It’s flashing amber at the BOE for withdrawing stimulus, with a green light at the Fed and red at the ECB.
From left, the ECB’s Christine Lagarde, the BOE’s Andrew Bailey and Jerome Powell of the Fed.
Daniel Roland/AFP via Getty Images; Hollie Adams/Bloomberg; Al Drago/Bloomberg
It all comes down to the final full week of 2021 business for the major western central banks to begin spelling out how they’re going to unwind almost two years of extraordinary stimulus.
It looks like a green light at the Federal Reserve, a blinking amber signal from the Bank of England and a shade of crimson from the European Central Bank. Their decisions in the coming days will create the template for a reset after pumping trillions into the global economy since Covid-19 hit last year.