“In the years since the financial crisis, central banks have leapt to the forefront of public policy making. They have taken responsibility for lowering interest rates, for maintaining stability of financial institutions, and for buying up government debt to help economies recover from recession. Now it seems that they have become important in another area, too, in starting to build up holdings of equities. One of the reasons for the move into equities reflects central banks’ efforts to compensate for lost revenue caused by sharp falls in interest rates driven by official institutions’ own efforts to repair the financial crisis.”
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