Fintech is going to shake the system

Christine Lagarde also said that it would be very nice if countries don’t have to rely on central banks in the next crisis.

The Federal Reserve, the Bank of England and the European Central Bank (ECB) were just some of the institutions that implemented unprecedented measures, such as lowering interest rates to record lows and buying up government bonds in vast quantities.

The ECB, for example, has only just dialed back its bond-buying program and is looking to finally lift rates during the latter part of this year. Stimulus programs are designed to promote corporate lending, boost inflation and get economies growing again. However, many believe that it can also lead to complacency and a feeling that a central bank will always be there in the bad times, meaning critical reforms are never undertaken.

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