Job Done: Central Bank Liquidity Close to a Peak?

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Job Done: Central Bank Liquidity Close to a Peak?

 

Latest weekly balance sheet data from major Central Banks show aggregate liquidity growth tick higher to 31% ( 3m ann.). The G4 (exc. China) equivalent is growing at an even faster 38%. The Fed and ECB are behind this week’s improvement, and they continue to outpace all other majors. The Bank of Japan and Bank of England stepped up the pace of monetary expansion in the second half of March, although latest data show some retracement. The People’s Bank of China continues to keep a tight rein on liquidity provision.

 

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