US EditionThe World Has Turned – and Central Banks Recognize It
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The ECB has just lowered its policy rate for the second time this year, thus joining an increasing procession of central banks engaged on the same slope: New Zealand and Mexico (January), Australia (February and May), Switzerland and Czech Republic (March), ECB and Sweden (April), Korea, Canada and Norway (May), again the ECB in June, and most recently India, which hit hard with a 50-basis drop. Only the Fed remains frozen, bogged down in its he…
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