The Bank for International Settlements urges regulators to get ready for a changing environment A new era of higher inflation and interest rates is impending as traditional ties between Western countries on one side, and Russia and China on the other, are deteriorating, while the impact of the coronavirus pandemic is driving globalization into reverse, said the head of the Bank for International Settlements, Agustín Carstens. “A key message is that we may be on the cusp of a new inflationary era,” the general manager of the BIS central bank umbrella group said on Tuesday. “We need to be open to the possibility tha
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