Global View January 2016: Measuring the Stance of Central Bank Policy in a Low/Zero Interest Rate Environment

by Michael J. Howell10. January 2016 18:59

This report explains why we use liquidity indexes to measure Central Bank behaviour and shows that, contrary to popular belief, the US Federal Reserve may not be as ‘loose’ as its low interest rate stance suggests. In short, further rate hikes in 2016 risk a policy error.

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