DUMA GQUBULE: If quantitative easing is inefficient, what else can the Bank do?
There is no reason central bank spending on productive assets should be inflationary
The SA Reserve Bank is feeling the heat. It is under pressure to do more to support the collapsing economy.
Central banks throughout the world have implemented unconventional monetary policies to counter the devastating economic impact of Covid-19. For example, the US Federal Reserve has provided lending of $2.3-trillion to support households, employers and state and local governments, according to an article by Jeffrey Cheng, Dave Skidmore and David Wessel, economists at the Brookings Institution in Washington...