BoE's Gieve states case for global action

Ever-more frequent global policy co-ordination will be essential in avoiding future financial crises, Sir John Gieve, the deputy governor responsible for financial stability at the Bank of England, has said.

In an interview with Hedge Funds Review, Sir John said "tight co-ordination" of macroeconomic policies or a global fiscal package remained unlikely. But joint rate cuts, such as those seen on 8 October, could become more common.

The role of global imbalances in the current crisis had high