BIS report highlights macro risks of inequality
A Bank for International Settlements report finds recessions can trigger a long period of elevated inequality, which risks creating an “adverse feedback loop”.
Writing in the introduction to the report, general manager Agustín Carstens notes the BIS’s 2021 Annual Economic Report explored central banks’ role in tackling inequality. The BIS concluded that monetary policy can most effectively support equality if central banks maintain price and financial stability. The new report, published today
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