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The race towards zero will go nowhere

Rather than pretend that they can return to normalcy, central banks should be devising ways to adapt to a low-rate world

William Pesek

Published Sat, Jul 25, 2015 · 5:50 am
In New Zealand, for example, central bank governor Graeme Wheeler (above) has been experimenting with so-called macro-prudential steps to tame asset bubbles, including limits on leveraged lending.

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