HONG KONG: A decade after the guardians of the world economy united to save it from depression, the scope for such shock-and-awe policies has all but dried up.
It was 10 years ago on Monday that the Federal Reserve and five fellow central banks banded together for a rare coordinated interest rate cut. They went on to deploy massive monetary stimulus as the global economy spiralled lower.
Already a subscriber? Log in
Save 30% OFF The Star Digital Access
Cancel anytime. Ad-free. Unlimited access with perks.
