In the decade following the Great Recession, central banks in developed countries have resorted overwhelmingly to unconventional measures to satisfy their mandates, be they dual (price stability and full employment) or solely focused on price stability...

Markets no longer believe in the ability of the ECB to raise its key rates in 2019 and the theme of the Japanization of Europe is coming back. A comparison with the Fed's experience in recent years allows us to see more clearly.

In the face of the low money market interest rates, returns offered by investments in money markets products have been declining steadily. While money market fund managers managed to turn in slightly positive performances in 2015, this could prove more daunting in 2016.

Chinese government directives last week concerning local government debt signal a potentially significant policy shift to prioritise growth over managing the country's debt problem, says Fitch Ratings.

According to Azad Zangana, Europe Economist at Schroders, the ECB's QE programme will benefit the Eurozone economy by reducing the risk of deflation; however, it is not a panacea for the monetary union's ills. Deep structural reforms are required in order to raise Europe's potential trend growth. Without structural reforms, the ECB may be forced to add additional stimulus in the future as growth falters again.