Central banks in Europe, Japan and the U.S. have kept interest rates low, implemented asset-purchase programs and taken other steps to calm financial markets and buy time for governments to make changes to spur growth. However, the Bank for International Settlements is concerned about markets' reliance on such stimulus. "The fact that market dynamics have become ever more dependent on central bank and government stimulus is a cause for concern," said Stephen Cecchetti, head of the BIS Monetary and Economic Department.

Full Story:

Related Summaries