7th International Conference on Sovereign Bond Markets

Many central banks in both industrialized countries and emerging markets responded to the financial crisis of 2008 and the accompanying global recession by adopting various forms of quantitative easing e.g., by buying massive amounts of bonds and other securities from market participants in order to provide liquidity to the markets, reduce the cost of capital, and ultimately foster economic growth. 

More than a decade later, some central banks are in the process of unwinding at least some of these policies; many others, however, have signaled their willingness to maintain QE facilities in place indefinitely, as they are faced with increasing global economic and financial instability, such as volatile currency markets, rising trade frictions among countries, and increasing indebtedness of the private and public sector. This policy choice raises the question of whether unconventional QE will become the "new normal" and so will its effects (and potential distortions) on both Wall Street and Main Street