BIS’s Caruana wants monetary policy to tackle stability and 'spillbacks'

Jaime Caruana, BIS

Central banks should do more to safeguard the international monetary and financial system, according to the Bank for International Settlments' (BIS) general manager, Jaime Caruana.

Caruana's remarks were published on April 30, although he delivered them at the IMF earlier this month. He warned of a "blind spot" in the system, with domestically focused policies "in a world of global firms, currencies and capital flows". The result, he said, was that liquidity conditions often spill across borders

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