Despite the relentless rise in rates over the last 18 months, inflation in many top economies remains stubbornly high, while the jump in borrowing costs triggered the most serious banking collapses since the financial crisis 15 years ago.
"The global economy is at a critical juncture. Stern challenges must be addressed," Agustin Carstens, BIS general manager, said in the organisation's annual report published on Sunday.
"The time to obsessively pursue short-term growth is past. Monetary policy must now restore price stability. Fiscal policy must consolidate."
Bu hikaye Financial Express Mumbai dergisinin June 26, 2023 sayısından alınmıştır.
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Bu hikaye Financial Express Mumbai dergisinin June 26, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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