Central banks face a daunting task: tapering without the tantrum
Jul 4th 2021Editor’s note (July 6th 2021): This article has been updated to reflect the Reserve Bank of Australia’s decision to taper its bond-buying in September.THE DEBATE over the effect on markets and the global economy of quantitative easing (QE), the purchase of bonds with newly created money, is almost akin to a culture war.…