Expansionary monetary policy - loose interest rate settings and quantitative easing - is fuelling asset price growth across global property, bond, equity and even art markets. According to The Economist, “the global art market is booming”, with sales at a record volume in 2014 while prices for contemporary and post-war art have risen by 19 per cent.

The global banking sector is facing unprecedented, inexorable pressure on margins as a result of sustained regulatory and competitive pressures – strongly amplified by global expansionary monetary policy from central banks.