Claudio Borio, head of the Bank for International Settlements’ monetary and economic department, added, ‘’on the financial side, things look rather fragile. Markets in advanced economies are still over-stretched and financial conditions still too easy. Above all, there is still too much debt around. With interest rates still unusually low and central banks’ balance sheets still bloated as never before, there is little left in the medicine chest to nurse the patient back to health or care form him in case of a relapse’’.
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