This week, the Bank of Israel had the honour of delivering the 512th official interest-rate cut seen around the globe since the start of the financial crisis in 2008, according to Bloomberg.
In all, countries accounting for around a quarter of the world’s GDP – including Australia, South Korea, and Kenya – have cut rates this month. While the global economic backdrop is hardly spectacular, there are few signs of imminent collapse either. So why the sudden global embrace of ‘easy’ monetary policy?
Blame the Bank of Japan. At the weekend, at a meeting of the G7 developed nations, the [...]
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