US EditionWorld Economy Faces ‘Pivotal Moment’, Central Bank Body BIS Says
- The BIS warns of an epochal global economic reboot, likened to a 'hardware refit,' amid rising trade tensions and geopolitical fractures before the July 9 U.S. tariff deadline.
- Outgoing BIS head Agustín Carstens highlighted U.S.-driven trade tensions, rising public debt, and geopolitical shifts as key factors fraying the global economic order.
- BIS analysis shows OECD interest payments reached 4% of GDP last year, with sovereign bond stress risking inflation and stability, Hyun Song Shin warned of 'once bitten, twice shy' risks.
- Following this, the dollar has fallen 10% this year, amid market angst and U.S. economic challenges, forcing the Fed to navigate conflicting inflation and slowdown pressures.
- Beyond these risks, the BIS warns that capitalism’s operating system needs a major upgrade as right-wing populism and economic nationalism threaten regressive modernization and global stability.
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World economy faces ‘pivotal moment’, central bank body BIS says
By Marc Jones LONDON (Reuters) -Trade tensions and fractious geopolitics risk exposing deep fault lines in the global financial system, central bank umbrella body the Bank for International Settlements, said in its latest assessment of the state of the world economy. Outgoing head of the BIS, often dubbed the central bankers’ central bank, Agustín Carstens, said the U.S.-driven trade war and other policy shifts were fraying the long-established …
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Leaning Left2Leaning Right5Center1Last UpdatedBias Distribution63% Right
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R 63%
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