The past year will be remembered as a moment of reckoning for central banks. The relentless wave of cheap money provided by policymakers set the bond market racing higher, spreading negative yields throughout the financial system and prompting many rate-setters, bankers and investors to wonder whether they could really control the monster they had created.
過去的一年將被銘記為央行的清算時刻。政策制定者提供的持續廉價資金潮使債券市場不斷沖高，將負收益率擴散至整個金融系統，并促使許多利率設定者、銀行家和投資者疑惑：他們是否真的能控制自己制造出的怪獸。
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