This applies in particular to the statements of a man who has worked for the BIS for 35 years, has been its chief economist since 2013 and, when we meet him in person, comes across as a professor who is concerned with his very own things. When Claudio Borio broadcasts Kassandrarufe from Basel, the world knows that things are getting serious. He currently sees plenty of cause for concern: “The large and well-developed economies are currently confronted with an unprecedented mix of challenges,” Borio told WirtschaftsWoche. “Central banks need to tighten monetary policy to prevent inflation from rising even higher amid a plethora of risks and dangers lurking.”
Financial markets: Is a new financial crisis looming?
