BIS calls for monetary tightening not heeded by major central banks

Tom Bowker

The principal message of this year’s annual report from the Bank for International Settlements (BIS) is not hard to decode, particularly for those who have been following the institution’s thinking for the past few years: the BIS believes the extraordinary monetary policies followed by the major central banks across the globe have saved the world from a worse financial crisis; but their continuation now risks preventing the world economy and financial sectors from undergoing a proper recovery.


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