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1.Market Observations, 8.Was Sticky

26 Oct 2017 (AFR) – Don’t blame central banks for build-up of financial risks

(26 October 2017, AFR, p25, by Martin Wolf)

‘”Favourable global economic prospects, particularly strong momentum in the euro area and in emerging markets led by China and India, continue to serve as a strong foundation for global financial stability.” This statement opened the International Monetary Fund’s April 2007 Global Financial Stability Report. Since this benign view was published on the eve of the most devastating financial crisis in nearly eight decades, it has to be viewed, in hindsight, as a spectacular misjudgment.’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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