Emerging markets launch QE, too
Unconventional monetary policy is not just for the rich world
EMERGING MARKETS have long resented quantitative easing (QE). When America’s Federal Reserve began its third round of asset purchases in 2012, Guido Mantega, then Brazil’s finance minister, accused it of starting a “currency war”. In 2013 Raghuram Rajan, then the chief economic adviser to India’s government, expressed his displeasure in the manner of Winston Churchill: “Never in the field of economic policy has so much been spent, with so little evidence, by so few.”
This article appeared in the Finance & economics section of the print edition under the headline “QE too”
Finance & economics May 9th 2020
- Credit-rating agencies are back under the spotlight
- With oil prices depressed, China presides over a buyer’s market
- A perky stockmarket v a glum economy
- Emerging markets launch QE, too
- In bleak times for banks, India's digital-payments system wins praise
- Could the pandemic give America’s labour movement a boost?
- Losses by central banks are nothing to fear
From the May 9th 2020 edition
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