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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    BIS chief urges central banks to stay course of normalisation

    Rocky
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    • Post n°1

    BIS chief urges central banks to stay course of normalisation Empty BIS chief urges central banks to stay course of normalisation

    Post by Rocky Fri 07 Mar 2014, 7:10 am

    BIS chief urges central banks to stay course of normalisation

    03/06/2014




    A return to more normal monetary policy is increasingly justified, the head of the Bank for International Settlements (BIS) said on Wednesday, encouraging central banks not to be put off by disinflationary pressures along the way.

    Central banks should "stay the course of normalisation" and should not be distracted by the "bumpiness associated with this adjustment" Jaime Caruana, head of the BIS said in a speech in Frankfurt, home to the European Central Bank.

    "They should not be overly concerned by occasional disinflationary pressures - these are often a result of structural change on the supply side," Caruana said.

    He was referring to the consequences of globalisation and the demand headwinds coming from excessive debt and the incomplete repair of company balance sheets.

    The BIS is known as the central banks' central bank.

    The ECB is due to meet on Thursday to set interest rates for the euro zone, which is struggling with inflation far below its target of just under 2 percent, weak bank lending and high unemployment.

    The ECB has said the euro zone's low inflation rates are in part due to price adjustments in some periphery countries as well as low energy costs, stressing that there were no deflationary risks in the currency union at the moment.

    A normalisation of monetary policy had "to some extent" already started with the U.S. Federal Reserve slowing its bond purchase programme, which Caruana said should continue.

    "Such a normalisation is increasingly justified by the progress of the recovery," he said.

    Caruana said global financial conditions remained accommodative and noted that investors were still moving out of safe, long-term assets into riskier ones. "One wonders whether markets are now pricing all of the relevant risks at a time when the macroeconomic environment remains uncertain."

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