BIS' Caruana warns low rate environment allows reforms to be postponed
Jaime Caruana, general manager of the Bank for International Settlements (BIS), has warned that low interest rates can "buy some time" but not solve "the problems the world economy is facing", adding that the low rate environment "generates incentives and the capacity to postpone necessary reforms and adjustments."
Addressing the International Association of Insurance Supervisors (IAIS) in Switzerland last month, he said the "most important aspect of the global policy response to the crisis has
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