NEW-YORK – Des deux cotés de l'Atlantique, les banques centrales ont pris des mesures monétaires extraordinaires en septembre : un troisième épisode de relâchement monétaire (QE3) attendu de longue date initié par la Réserve fédérale américaine et l'achat sans limite des obligations souveraines des pays de la zone euro annoncé par la Banque centrale européenne (BCE). Les marchés ont réagit par l'euphorie, la Bourse américaine par exemple, a battu des records depuis la récession.
Par contre, certains, notamment à droite, craignent que ces mesures alimentent l'inflation et poussent les Etats dans des dépenses inconsidérées.
Tant ces craintes que l'euphorie ne sont pas à propos. Du fait de la sous-utilisation massive des capacités de production et des mauvaises perspectives économiques immédiates, le risque d'une inflation importante est minime.
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The Year Ahead 2018
The world’s leading thinkers and policymakers examine what’s come apart in the past year, and anticipate what will define the year ahead.