Is the West headed Japan's way?

Two key issues dominate the economic and investment landscape: concern that monetary policy may be at the end of the line and prospects for the US after November's presidential election, writes Daniel Murray, chief economist at EFG Asset Management.

Following Japan's example? In the four major developed economies - the US, UK, Japan and the eurozone - economic growth has remained modest, albeit positive, in 2016 with subdued inflation. Three of the four central banks of those countries have responded with a greater degree of monetary easing. The fourth, the US, has as yet failed to raise interest rates in the way markets expected at the start of the year. What should we expect next from developed economies' monetary policy? In Japan, the total asset purchases by the central bank including real estate investment trusts (REITs) a...