Central banks have let the genie out of the bottle

BoJ leads: A file picture showing a man walking in front of the BoJ headquarters in Tokyo. Japan has shown the way. Last year was an ignominious anniversary of zero rates, once seen as a piece of local exotica, along with quantitative easing. — AFP

THE world’s biggest economies have rolled out a plethora of monetary support measures over the past two months.

If there’s one central bank that knows how hard bottling them back up will be, it’s Japan, where special operations have become a permanent fixture.