EMs should work to avoid ‘macro-prudential war’ – BIS article
Use of macro-prudential policies should be co-ordinated internationally, officials say
Emerging markets should work towards building global co-operative arrangements to maximise the benefits of macro-prudential policies, and urge advanced economies to act in an enlightened way, officials from the Bank for International Settlements (BIS) say.
Financial spillovers since the global financial crisis have led many EMs to develop “pragmatic” policy frameworks, write deputy general manager Luiz Pereira da Silva and senior economist Michael Chui. Such frameworks are built on inflation
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