Markets are highly dependent on central bank behaviour, the chief economist for the Bank for International Settlements has warned, pointing to concerns about volatile prices that have intensified in recent weeks.
“It is becoming increasingly evident that central banks have been overburdened for far too long,” said Claudio Borio, head of the monetary and economic department of the BIS, commenting on the bank’s latest quarterly review. The BIS is dubbed the central bankers’ bank because monetary authorities hold accounts there.
“A more balanced policy mix is essential to bring the global economy into a more robust, balanced and sustainable expansion,” Mr Borio said.
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