- May 2014 Vol.6 No.5

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Leading the way: Central banks in the East promote growth

by Benjamin Cole

Like an act that cannot be pulled off stage even by a hook, the globe’s major central banks continue front and centre in the ongoing international economic play, curtain after curtain. Since 2008, real estate investors have been a captive audience for central bank performances, compelled to watch closely, read between the lines and guess at future plot lines, whether subtly hinted or flatly stated.

Following the global financial crisis, many major-nation governments embraced “fiscal austerity”— smaller deficits, smaller government and thus a smaller role in national economies. If they were not already turned in that direction, investor eyes and ears in the West became riveted on the European Central Bank, the Bank of England and the US Federal Reserve. And in the East, the

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