Are the APP and the extraordinarily low interest rate still appropriate, given the current average macro-economic environment in the euro area?
Faced with the prospect of a possible imminent financial crisis, we wonder if the rich, this time, also have something to fear. Or do we live in a economy structured to protect their interests?
The Abenomics policies have not given the expected results: the risk of deflation persists, the level of public debt is still very high.
In recent years, central banks have managed to prevent markets from worrying about guessing the direction of their policies by giving them indications that have not been too dramatic or overly inaccurate.
2016 was supposed to be the year that the Federal Reserve "normalized" its policies. As much as two years ago -after years of a near-zero target rate- the Fed was swearing that it would begin to raise rates back to "normal" levels and cut its balance sheet. That never happened.