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A boy reacts as a giant bubble is formed around him during a show at the Water Museum in Kiev October 2, 2012.
A boy reacts as a giant bubble is formed around him during a show at the Water Museum in Kiev October 2, 2012.
(Gleb Garanich/Reuters)

BREAKINGVIEWS

QE’s not causing bubbles – that we can see

Reuters Breakingviews delivers agenda-setting financial insight. Its global correspondents react to stories as they develop, delivering sharp and provocative commentary on big financial news as it breaks.

Central bankers almost never see bubbles before it’s too late. So however much today’s money printing appears to push up asset prices, policymakers will judge that markets are more or less properly priced. David Miles, a member of the Bank of England’s Monetary Policy Committee, thinks he can prove it. QE is a safe, QED.