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Hayek believed the central bank should aim to stabilise nominal incomes.
He believed the central government would step in and punish local officials in Shandong who were violating national policy.
Beijing officials say they knew nothing about the scandal until September, though a Fonterra company spokesman said the company believed the central government knew in August.
Analysts said they believed the central banks' action targeted one of the symptoms, rather than the root or cause, of the euro zone problems.
Mr. Véron said he believed the central bank was aware of the risks but had no other alternative as long as governments like Italy or Spain were struggling to regain investor confidence.
In August, the unemployment rate dropped much faster than expected to 7.3%, and investors widely believed the central bank would start winding down QE in September.
Similar(51)
A vocal minority believes the central bank already has done too much.
McClatchy believes the central narrative has strong parallels with Verdian subject matter.
Many economists and investors believe the central bankers will hold interest rates steady.
We believe the central constraint in high throughput data processing has moved from compute and storage to the network.
But some analysts say they believe the central bank could stop that process or even reverse it.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com