Economics
Central Bankers' Swiss Temple Gets Shakeup in Carstens Regime
- General manager has sought changes since joining in late 2017
- A 2016 report said research slanted to support ‘house view’
Photographer: Gianluca Colla/Bloomberg
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Agustin Carstens is changing the way the Bank for International Settlements doles out advice to the world’s monetary chiefs.
The tone in Basel since the new general manager of the “central bank for central banks” took office in late 2017 marks a shift from its frequent public admonitions for ultra-low interest rates. It now favors a less provocative approach aiming to help them chart the exit from their crisis response.