Central banks can’t expand loose monetary policy without exacerbating risks to world economies, the Bank for International Settlements said.
“Central banks cannot do ‘whatever it takes’ to return still-sluggish economies to strong and sustainable growth,” Stephen Cecchetti, economic adviser and head of the monetary and economic department at the BIS in Basel, Switzerland, told reporters on a conference call. “Central banks cannot do more without compounding the risks they have already created.”
