Central banks running out of firepower in fight for global growth – Glenn Stevens

'We are reaching the limits of monetary policy,' Reserve Bank governor says, urging governments to do more

The Reserve Bank governor, Glenn Stevens, has warned that the inability of governments and central banks to lift global growth prospects is the "biggest vulnerability" facing the world's financial system today.

He says global growth must be Australia's focus but the country also needs to realise that central banks are running out of firepower and government policies must start carrying more of the burden.

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