BIS warns on inflation and trade imbalances

The Bank for International Settlements (BIS) noted in its 77th Annual Report, released on 24 June, that the performance of the global economy over the last few years has been extraordinary, raising "questions about the source and, closely related, the sustainability of all this good fortune."

Real growth has been maintained around levels that are among the highest recorded in the postwar period, and many of the world's poorest countries have shared in this growing prosperity.

Underlying inflat