Central Bankers to the Rescue… Again

The world’s largest developed economies continue to experience modest and volatile growth as they work off excess debt accumulated over the previous decades. Global growth is unlikely to come in a straight line, due to the instability caused by excess debt and the inconsistency and cyclicality of governmental policy response. In fact, in the near-term, global economic growth appears to again be waning, creating the third annual growth scare since 2009. This has prompted further monetary action from central banks. Will it be effective?