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Why central banks must handle the shift to a post-coronavirus pandemic normal with extreme care

Over the past year, rich-country governments and central banks have provided unprecedented fiscal and monetary stimulus to help mitigate the economic impact of the Covid-19 pandemic. Getting back to economic normality – whatever modified form that takes in 2021 and 2022 – will require advanced economies to start weaning themselves off official support before too long, and thereby avoid dangerous new complications.On the monetary-policy front, central banks around the world did whatever was…

Read the original article at South China Morning Post

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