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Price level targets wouldn’t solve policy problems

The past month has seen a significant change in tone from the world’s major central banks and in expectations of their policies. As fears over trade tensions have mounted and economic data have brought little evidence of the rebound in growth that many had anticipated, markets have moved towards our own more dovish views about global monetary policy. Significant interest rate cuts are now expected from the Fed and our expectation of renewed QE by the ECB is no longer as controversial as it once was.

Read the publication Price level targets wouldn’t solve policy problems on the Capital Economics Website.