Gary Judd: World defenceless against next financial crisis

The world is defenceless against the next financial crisis, warns BIS. Monetary policymakers have run out of room to fight the next crisis with interest rates unable to go lower, the BIS warns

That is a headline in The Daily Telegraph of 28 June 2015. The article commences “The world will be unable to fight the next global financial crash as central banks have used up their ammunition trying to tackle the last crises, the Bank for International Settlements has warned…. The BIS report described the threat of a new bust in advanced economies as a “main risk”, with many reaching the top of the economic cycle.”[1]