Global central banking has become more complicated than ever. Jessica Einhorn, resident at The Rock Creek Group in Washington and former dean of Johns Hopkins University's Paul H. Nitze School of Advanced International Studies, uses poetry to break down the situation.

Europe faces a decade of stagnation without "sustained and significant reforms," Mark Carney, the incoming governor of the Bank of England, warned.

Jaime Caruana, general manager of the Bank for International Settlements, warned in an unusually frank speech that, while the ultra-low interest rates and ultra-easy monetary policy adopted by advanced economy central banks might have been the right response to the crisis when it broke, they are looking increasingly dangerous the longer they last.

One of the first tasks of incoming Bank of England Governor Mark Carney will be to persuade his colleagues on the Monetary Policy Committee that spelling out the future path of central bank policy is a good idea.