BIS chief warns soaring debt, market changes could complicate future crisis response

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The central banks will continue to be fundamental in managing future financial crises, but the increase in public debt and other important changes in the markets can make their task more difficult and controversial, said on Monday (5) the President of the Bank of International Compensation (BIS), Pablo Hernández de Cos. Speaking in Vienna, Hernández de Cos, one of the main candidates to succeed Christine Lagarde as President of the European Cent…

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The central banks will remain at the centre of the management of future financial crises, but increasing public debt and other major changes could make their task more difficult and controversial, said the director of the Bank of International Regulations (BIS), Pablo Hernandez de Cos, transmits Reuters, reports Agerpres.

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Central banks will continue to play an important role in managing financial crises, but growing government debt makes their task more difficult and controversial.

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Central banks will remain at the heart of the management of future financial crises, but increasing public debt and other major changes [...]

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A high level of public debt can complicate the intervention of central banks in future crises, as well as other factors such as the growing presence of non-bank financial institutions and digital innovation, as warned this Monday by Pablo Hernández de Cos, Director General of the Bank for International Settlements (BIS). «If dysfunction [...] The De Cos entry warns that a high public debt hinders the central banks’ response to a crisis appears f…