This document is a special report discussing the limits of central bank policy intervention and its implications for investment. It explores the effectiveness of quantitative easing (QE) and the potential negative consequences of central bank interventions, such as capital misallocation and asset bubbles. The report also addresses the challenges faced by central banks like the ECB, Fed, and BOJ, and provides investment strategies in light of these challenges. It emphasizes the importance of realistic return expectations, risk management, flexible diversification, and deep local knowledge in navigating the current investment environment.
documents/vol00010-efta01437704-pdf.pdf
{"title":"The limits of monetary policy: Are central banks losing their magic touch?","key_people":["Christian Notting","Mervyn King","Paul Krugman","Ben Bernanke","Stephen Williamson","Robert Barro"],"document_date":"March 2016","document_type":"correspondence","key_locations":["United States","Eurozone","Japan","United Kingdom"],"document_subtype":"Marketing Material","key_organizations":["Deutsche Bank Wealth Management","European Central Bank (ECB)","Federal Reserve (Fed)","Bank of Japan (BOJ)","Bank of England (BoE)"],"reference_numbers":["EFTA01437704","EFTA01437705","EFTA01437706","EFTA01437707","EFTA01437708","EFTA01437709","EFTA01437710","EFTA01437711","EFTA01437712","EFTA01437713","EFTA01437714","EFTA01437715","EFTA01437716","EFTA01437717","EFTA01437718","EFTA01437719","EFTA01437720","EFTA01437721","EFTA01437722","EFTA01437723","EFTA01437724","EFTA01437725","EFTA01437726","EFTA01437727","EFTA01437728","EFTA01437729","EFTA01437730","EFTA01437731","EFTA01437732","EFTA01437733","EFTA01437734","EFTA01437735","EFTA01437736","EFTA01437737","EFTA01437738","EFTA01437739","EFTA01437740","EFTA01437741","EFTA01437742","EFTA01437743","EFTA01437744","EFTA01437745","EFTA01437746","EFTA01437747","EFTA01437748","EFTA01437749","EFTA01437750","EFTA01437751","EFTA01437752","EFTA01437753","EFTA01437754","EFTA01437755","EFTA01437756","EFTA01437757"]}