One central bank ends QE, another increases it. This is not a trick, but a treat for the markets. The global equity markets found additional buoyancy on Friday after the Bank of Japan surprised the markets overnight by expanding its monetary easing program to about 80 trillion yen a year, up from Y60tn-Y70tn previously.
The pound rose versus the dollar, extending a gain from the end of last week, as a gauge of retail sales exceeded analysts’ forecasts and trading patterns suggested the U.K. currency was due to halt its downward trend.
In the second half of our interview with Nouriel Roubini,FINalternatives editor-in-chief Deirdre Brennan speaks with the renowned economist about IMF policies, the risk posed by shadow banking systems, and the possibility of a hard landing in China.