Central banks' attempts to kick-start advanced economies following the financial crisis have made the gap between the rich and poor wider, suggests the Bank for International Settlements.

In the BIS' Quarterly Review, Analysts Dietrich Domanski, Michela Scatigna, and Anna Zabai studied the evolution of wealth inequality in France, Germany, Italy, Spain, the U.K. and the U.S. was influenced by monetary policy since the recession.

On its face, this conclusion may be intuitive: the collapse in financial markets disproportionately hurt households in which financial assets make up a greater portion of their net worth (which tend to be the richest ones). To the extent that central banks aided a reflation in financial assets, they contributed to a dynamic in which wealthier households became richer than less affluent ones. Yet conventional economic wisdom holds that the net effect of central banks on wealth inequality is neutral, the BIS explains. 

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