You thought central bank money printing was at an end? Don't bet on it

``The world economy is still in a very deep hole, with major structural imbalances still largely unaddressed. Any attempt to apply the brakes would only choke off what remains a very fragile and unconvincing recovery, tipping some major economies back into recession. This in turn means that central banks will struggle to remove monetary accommodation in the way markets are starting to anticipate. We've become hooked on easy money, and I very much doubt the world economy is yet ready for the cold turkey of its withdrawal.''