A vaccine won't derail the easy money train

Vaccine breakthroughs are great. But the vaccine itself has to be distributed and have a demonstrable effect on activity for central banks to be convinced it's time to consider letting up

Topics
Coronavirus | Coronavirus Vaccine | global central banks

Daniel Moss 

Daniel Moss

A small nation on Asia’s periphery packed a powerful message for the global economy this week: Don’t get carried away by the good news on vaccine development. Central banks are miles from the exit ramp for the tremendous stimulus they’ve pumped into the economy. If anything, increased support is far more likely.

On Monday, Pfizer and BioNTech were hailed for the “extraordinary” results of their experimental vaccine, sending markets soaring. Investors revived bets on a reflating global economy and even began to sniff out rate hikes. Two days later, the ...

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First Published: Fri, November 13 2020. 23:52 IST
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