Fund managers: Our verdict on central bank performance

Didier Saint-Georges, managing director, Carmignac Gestion Exit strategies a priority Central Banks have NO correct course of action left. Pursuing exceptionally easy policies is problematic as it keeps encouraging further resource misallocation, asset bubbles, and social inequality, while its incapacity to deal with deflationary pressures is now established. Central banks cannot keep fueling future market instability much more. They also need to regain some room for manoeuvre to be able to ease at the next down-cycle. But, by the same token, withdrawal symptoms will already be br...