Central bank balance sheets Could Take Decades To Normalize

``Given that annualised nominal GDP growth has been around 3% for the past decade for both the UK and the US, and most analysts expect economic growth to be below trend for the next few decades (demographic forces, debt and a prolonged crisis recovery) it is not unreasonable to suggest that it could be nearly a century before the Fed and BoE's balance sheet/GDP ratio has returned to a more normal 5%.''