World economy in a rut despite flood of stimulus
Central bankers already pressing against the limits of their powers; threat of recession still around
Washington
CENTRAL bankers have managed to steer the world economy clear of a recession while leaving it stuck in the same rut that led to its troubles in the first place.
A torrent of monetary stimulus in recent weeks helped spark a turnaround in financial markets by assuaging investors' fears of an impending global downturn. Yet it did little to lift hopes among economists of a stronger pick-up that would put growth on a more solid footing.
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