Central banks did the right thing. However, acknowledging this does not mean that the long-term continuation of expansionary monetary measures, initially adopted on an exceptional basis, cannot be questioned—especially when one argument for maintaining them is precisely the fear of the potential negative consequences if they are withdrawn.
For example, in terms of a return to a deterioration in financing conditions. Do you remember? The implicit objective of many of these measures was financial stability, synonymous with an improvement in financing conditions. Can anyone claim that there are financing difficulties at present? The ample supply of bank financing is a fact, with interest rates and maturities that are hard to beat.
