The banks have emerged as the big winners - yet again

Bubbles are notoriously difficult to pinpoint - and even harder to control

27th November, 2016
Philip Lane, Governor of the Central Bank of Ireland

Central banks and central bankers are meant to be uncontroversial, unsurprising and preferably dull. They are the last line of defence at a time of crisis.

They are meant to be the safe hand on the tiller of the economy the rest of the time. Their actions are not meant to shock, but are normally choreographed and usually flagged well in advance. And that was why the decision by the Central Bank’s governing commission last...

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