The ghost of Basel rattles its chains and moans, again

The Bank for International Settlements has issued central banks another stern warning about the long-term perils of ultra-loose monetary policy, but its pleas are likely to fall on deaf ears.

A year and one week ago, the Bank for International Settlements’ 2013 annual report called for an end to super-loose monetary policy. It was ignored.

Yesterday the 2014 annual report did the same, in stronger language.

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