FSB chair says world faces ‘pivotal’ moment

Tight policy and slowing growth signal financial stability problems ahead, warns Klaas Knot

Klaas Knot
Klaas Knot
Photo: DNB

Financial Stability Board chair Klaas Knot said the world was facing a “pivotal” moment, as the battle against inflation threatens to tip economies into financial instability.

Knot wrote to the Group of 20 today (September 5) ahead of a summit in New Delhi, warning leaders that “persistent” inflation, tighter financial conditions and a “slowing growth outlook” could “create challenges” for banks and non-banks.

Contagion from individual bank failures in March was “limited”, Knot said, but he

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