The past year will be remembered as a moment of reckoning for central banks. The relentless wave of cheap money provided by policymakers set the bond market racing higher, spreading negative yields throughout the financial system and prompting many rate-setters, bankers and investors to wonder whether they could really control the monster they had created.
过去的一年将被铭记为央行的清算时刻。政策制定者提供的持续廉价资金潮使债券市场不断冲高，将负收益率扩散至整个金融系统，并促使许多利率设定者、银行家和投资者疑惑：他们是否真的能控制自己制造出的怪兽。
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