US President Barack Obama speaks with people at 1776, a tech startup hub, on July 3, 2014 in Washington, DC. AFP Photo/Brendan SMIALOWSKI
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With U.S. stocks hitting record highs on the back of strong jobs growth, the European Central Bank holding out the prospect of printing money and British house prices soaring there is a lot to ponder in the week to come.The Dow Jones index breached 17,000 for the first time last week, days after the Bank for International Settlements – the global forum for central banks – said that markets were in a "euphoric" state and that keeping interest rates too low for too long could sow the seeds of another crisis.The U.S. Federal Reserve is winding up its money-printing program but seems comfortable leaving rates low until well into next year. The European Central bank cut rates last month and may yet have to resort to quantitative easing in order to ward off deflation.Only last year, the Bank was predicting no move until 2016 .Bank of England chief economist Andy Haldane said last week that raising rates was the last line of defense against asset price bubbles, but it would be surprising if property prices were not very high on the Bank's agenda.
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