Can central banks continue rescuing markets?

IT'S interesting to contemplate Friday's rally, coming as it did on the last trading day of January and after the Bank of Japan (BOJ) opened its monetary taps yet again, shifting interest rates into negative territory.

The momentum of that window- dressing push is unlikely to last, so the start of this week is likely to be more sedate. Beyond that the question is whether markets will continue responding to central bank support as they have from 2008-2014, o…