Back then, most central banks, including the Fed, were pumping record amounts of money into the system through zero interest rate policy and unlimited bond buying to help the global economy absorb the shock from the coronavirus pandemic. They are unlikely to revert to the ultra-easy policy in the near term. Recently, the Bank of Japan, the last heavyweight running a loose monetary policy, has begun turning hawkish.
Federal Reserve’s Rate Hike Cycle Has Peaked, Investment Banks Say
