LONDON (Reuters) – Governments and central banks need to step up efforts urgently to support their economies in the face of the coronavirus crisis, the head of the Bank for International Settlements said on Sunday.
FILE PHOTO: Bank of Mexico Governor Agustin Carstens gestures during the delivery quarterly report from the Bank of Mexico in Mexico City, Mexico, November 22, 2017. REUTERS/Edgard Garrido/File Photo
General Manager Agustín Carstens, who heads the BIS – an umbrella group for the world’s central banks – wrote an opinion piece on Sunday saying “urgent” solutions beyond those used during the 2008 financial crisis were needed.
Rules brought in after the 2008 crash were designed to prevent banks overextending themselves, but the worry now is that the