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No punch bowl. But central banks want the world to party on

Leisurely approach towards tighter monetary stance could result in another year of synchronised global growth in 2018

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"The global economy is doing well. We're in a synchronised expansion. This is the first time in many years that we've seen this." - Outgoing Fed chair Janet Yellen told reporters on Wednesday after the US central bank raised interest rates for the third time this year.

Washington

CENTRAL bankers are gingerly trying to take away the punch bowl without interrupting the party. Led by interest-rate increases by the Federal Reserve and the People's Bank of China, central banks around the world shifted towards a tighter monetary stance this week. Yet, the...

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