Hawkish BIS warns on dangers of ultra-low rates
The Bank for International Settlements (BIS) on Monday cautioned central banks on leaving rates too low for too long, saying that ultra loose policy was likely to stoke inflation sooner than many expect.
The BIS said the degree of slack in economies was likely to be far smaller than suggested by conventional measures of the output gap - measures which some policymakers at the Bank of England and the Federal Reserve have cited as justification for keeping rates at record lows for an extended
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