There are no small or large central banks these days, there are only rightly optimistic or wrongly pessimistic ones. The first can restore trust in the global and national economies. The latter can only make things worse by deepening a vicious circle instead of igniting a virtuous circle in our financial communities.
The PBOC belongs to the first by telling us that the contagion has exerted a downward pressure on China’s economy, but it will not last long /Chen Yulu, FT, 21 February 2020/.
The deputy governor is absolutely right, this brave and reliable message should be heard in the whole global village.
We Hungarians fully share this view, a quick V-shape will unfold in the majority of the global economy, where optimism can defeat pessimism.
Governor Matolcsy, MNB, the Central Bank of Hungary