Who said the burnt child fears the fire? Central banks have shown themselves notable exceptions to that cliché, as evidenced by the slowness with which they responded to the early signs of inflation returning as a major threat, like a long-dormant volcano rumbling ominously. The institutions whose fundamental responsibility it was to detect and counteract the first symptoms of the inflationary scourge were reprehensibly relaxed about that menace.
Can China’s stimulus blitz fix its flagging economy?
China’s central bank has announced a raft of measures in response to fears that Beijing could miss its annual growth target.