BIS sees ‘narrow’ path to safety as global risks build

The Bank for International Settlements, Basel
Photo: Ulrich Roth

The Bank for International Settlements warns of the “narrow” path that policymakers must walk if they are to restore stability to the global financial system in its first-ever stand-alone annual economic report.

While echoing calls to action from previous years, the institution appears to have subtly softened its message on monetary policy. It commends the current gradual pace of interest rate hikes while noting higher rates are an important component of a more balanced “policy mix”.

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