Analysis: At least 19 central banks around the world have decided to implement quantitative easing

Due to the slowdown in global economic development, at least 19 central banks and regional financial supervisory authorities announced that they will implement monetary quantitative easing, such as sharply cutting interest rates. According to economists, the current global economy may be worse than the 2008 financial crisis. This situation has warmed since the beginning of 2019. More than half of the economists in the National Business Economic Association (NABE) believe that there will be a recession by 2020. The macroeconomic storm is only a matter of time. As the end of the year approaches, many central banks have begun to set off a rate cut. It is reported that countries that have implemented monetary quantitative easing policies include Japan, the United States, Europe, South Korea, Russia, India, Thailand, England, Australia, New Zealand, Brazil, Mexico, Indonesia, South Africa, Turkey, and the Philippines. Historically, the central bank’s sharp cut in interest rates is a warning sign that the economy may move into a disturbing period. In the past, people always hedge against inflation and legal currency depreciation through safe-haven funds such as gold. Both precious metals and cryptocurrencies now benefit from an unstable economic outlook, and many have begun to seek alternatives such as cryptocurrencies, hoping to protect their wealth from the instability of the financial system.