Saturday, October 24, 2009

Morgan Stanley fears global central banks will 'monetise' public debts

By Ambrose Evans-Pritchard
Published: 7:02PM BST 21 Oct 2009

Morgan Stanley has warned clients that central banks in high-debt countries may try to stoke inflation as a deliberate policy to rescue governments and tackle the legacy of the crisis.

It said the surge in the public debts of Western countries is comparable to the effects of war, with the big difference this time that aging populations and excess capacity will make it hard to erode the burden through economic growth

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