More trouble likely after ‘bumps’ in past quarter, says BIS’s Borio

The Bank for International Settlements, Basel
Ulrich Roth

It has been a bumpy quarter for global financial markets, and more bumps in the road are likely to follow as advanced-economy monetary policy normalises, the Bank for International Settlements’ Claudio Borio has warned.

The head of the Monetary and Economic Department said it was hardly surprising that normalisation was proving difficult for markets to digest, given the “unprecedented initial conditions”.

“The recent bump is likely to be just one in a series,” he told journalists ahead of the

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