However, currently almost every central banker in this globalised world keeps wondering whether the night ahead will continue the dream run and if so, when will it run out of steam. The concerns of central bankers today arise out of what has been described as stable disequilibrium with every day adding to potential disequilibrium while continuing to be stable.
The perceived risks arise mainly out of global imbalances and outlook for oil prices, particularly in the light of emerging geo-political situation. Most market participants seem to sense these risks but this sentiment does not appear to be reflected in the pricing of risks. Risks do not disappear but they get transferred to another part of the system.