The leading central banks hold the financial markets in their hands. Last year they took us to new summits for global share prices. In response to the pandemic they drove interest rates down to zero and below and promoted a long and large bull market in government debts. Now they are wobbling in their support.
全球主要央行掌握著金融市場。去年它們帶來了全球股價的新高峯。爲了響應疫情，它們將利率調低至零或負數，並推動了政府債券的長期大牛市。現在，它們的支持已開始動搖。
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