A time for resolve and realism
· Agustín Carstens, General Manager of the Bank for International Settlements (International)
Summary written by Dark Majestic in its own words · topics: monetary policy and interest rates, inflation and price stability, financial stability, public finances and debt
AC · Agustín Carstens Wiki · Bank for International Settlements WikiA time for resolve and realismContextPresentation of the 93rd BIS Annual Economic Report in Basel; the BIS serves central banks worldwide as they fight persistent inflation.
Why it mattersThe BIS annual report calls for resolute but realistic tightening and fiscal consolidation.
Problems raised- High debt, asset prices and inflation amplify risks to the global economy.
- Pockets of vulnerability remain in the banking system.
- Long-term growth prospects are weak.
Solutions proposed- Pursue resolute yet realistic monetary tightening.
- Consolidate fiscal policy to support disinflation.
- Reinvigorate structural reforms to lift growth.
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