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Article: Central bankers must place bets in a game where losing is easy
- Article from:
- The Independent (London, England)
- Article date:
- December 3, 2007
CopyrightCopyright 2007 The Independent - London. Provided by ProQuest LLC. (Hide copyright information)
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As they gather around the roulette wheel that increasingly
signifies the global economy, what bets will the world's central
bankers be making?
We're now in a high-stakes game where losing is all too easy.
Finding themselves in a Las Vegas gambling den, Messrs Bernanke,
King and Trichet are discovering that the odds are very much stacked
against them. They're not the only ones. Governor Zhou Xiaochuan of
the People's Bank of China (PBOC) is also, no doubt, wondering
whether his lucky economic numbers will still keep coming up.
To understand why life is currently so difficult, it's worth
dwelling on the conflicts which are giving central bankers such
headaches. After its last policy meeting, ...