Evidently, these developments have to be seen against the backdrop of the financial and sovereign debt crises of the past six years. For sure, there have been good reasons why central banks helped contain the crises through additional policy measures.
Central banks can do, and are doing, a lot to prevent tail events and are buying time for politicians to undertake the reforms needed to tackle the root of the crisis. But I am concerned to see central banks being pushed into the role of an all-purpose weapon of sorts. This will not do anybody any favours.