Central Banks Face Bumpy Road to Normalization, BIS Says
This article is for subscribers only.
Central banks shouldn’t delay an exit from emergency policy measures even as the path may be rough, the Bank for International Settlements said.
“It will be difficult to ensure a smooth normalization,” the BIS said in its annual report released yesterday. “The prospects for a bumpy exit together with other factors suggest that the predominant risk is that central banks will find themselves behind the curve, exiting too late or too slowly.”