This is part of a series, ‘’, featuring conversations between top FT commentators and leading economists
The Bank for International Settlements is known as the central bankers’ bank. It does provide banking services for the world’s central banks, but more importantly uses its convening powers to provide a forum for discussing monetary and financial stability.
With inflation hitting multi-decade highs across both advanced and emerging economies, the BIS’s view that nations are taking a big risk with inflation staying high for much longer than hoped, hit the headlines earlier in the summer.
General manager Agustín Carstens said that instead of thinking that inflation could smoothly rise and fall, it was more likely to stick either in a favourable world of low-inflation around central bank targets of 2 per cent or in a dangerously high zone.
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