Global central bankers are discovering that monetary policies they once viewed as unconventional and temporary are now proving to be conventional and long-lasting. “There’s every reason to believe that the move to tighter monetary policy will take as long –- and probably much longer -- than the post-financial-crisis period. Monetary policy makers are already working closer than ever with their fiscal counterparts despite the traditional separation of responsibilities. As for what assets central banks are willing to buy, there has been a sea-change well beyond U.S. shores. “As unconventional becomes the new conventional, central banks face fresh challenges," said Tom Orlik, chief economist for Bloomberg Economics.

Source: Mint September 13, 2020 11:15 UTC