2014-07-01telegraph.co.uk

``It added that a "persistent easing bias" by fiscal, monetary and prudential policymakers had lulled governments "into a false sense of security" that delayed needed consolidation and created a risk that instability could "entrench itself" in the system. "Policy does not lean against the booms but eases aggressively and persistently during busts," the BIS said. "This induces a downward bias in interest rates and an upward bias in debt levels, which in turn makes it hard to raise rates without damaging the economy -- a debt trap.'' -- Hello BIS, we see you read ML-Implode!



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