The Bank for International Settlements is the stopped clock of international economic institutions. It has argued for monetary and fiscal tightening, whether that makes sense, or not. Fortunately, policymakers, or at least the central banks that are members of the BIS, have ignored its apparent conviction that the world needed an even deeper and more prolonged recession. Yet now, precisely because central banks wisely ignored its advice, a synchronised recovery has finally arrived. So does the latest BIS annual report tell the right time again, as it did in the years before the crisis?
国际清算银行(BIS)是国际manbetx20客户端下载 机构里停摆的时钟。BIS主张货币与财政政策紧缩，无论这么做是否合理。幸运的是，政策制定者、起码是作为BIS成员的各个央行，忽略了BIS如下显而易见的观点：世界需要一场程度还要更深、时间更长的衰退。不过现在，恰恰因为央行明智地忽略了BIS的建议，一场同步复苏终于到来。那么，在最新年度报告里，BIS这面停摆的时钟是否像危机之前那些年一样，再次显示了正确的时间？