Financial institutions must prepare for higher interest rates, says Carney

Mark Carney

Banks, insurance companies and other financial institutions must prepare for higher interest rates and volatility in asset classes as the world's biggest economies shift away from the "extraordinary emergency accommodation" in monetary policy that has characterised the last few years, according to incoming Bank of England governor Mark Carney.

Addressing a press conference in his role as chairman of the Financial Stability Board (FSB), Carney said it is "a given" that "across all major jurisdict

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