The Bank for International Settlements, which is serving as a central bank for central banks, has released its flagship report, where inflation, interest rates, debt, financial stresses and unified ledgers are analyzed in three chapters.
A very interesting reading the Annual Economic Report 2023, which followed the Annual General Meeting of the BIS, which was held on Sunday 25th June.
In the Report the global economy is described as facing a critical and challenging juncture, with policymakers grappling with a unique set of issues. The combination of rising inflation and widespread financial vulnerabilities, including high debt levels and elevated asset prices, has created a daunting situation. Financial stress has already emerged, and tackling these challenges individually would be difficult, let alone addressing them collectively.
