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BIS

The Bank of Spain

In Spain 12th November 2024

Former Bank of Spain governor Hernández de Cos appointed new managing director of Bank for International Settlements

Pablo Hernández de Cos, the former governor of the Bank of Spain, has been elected as the managing director of the Bank for International Settlements (BIS). He will succeed the Mexican Agustín Carstens and will take office on July 1, 2025, with a five-year mandate.The BIS, the international institution responsible for coordinating and establishing global regulatory standards for banking and finance, is the author of the regulatory frameworks known as…

Carstens

European economy, Interviews 27th December 2022

“We are facing a change of era rather than a change of cycle”

Fernando González Urbaneja & Luis Martí | Agustín Carstens, Managing Director of the Bank for International Settlements, Basel (BIS), explains that “I think this is a change of era. While it is true that it may coincide with a change of cycle, I believe we are facing a change of era for several reasons. There are structural factors that helped us during the last few years, since before the global…

ECB

World economy 1st July 2015

BIS proposes sadomonetarism to promote recovery

July 1, 2015 | By Benjamin Cole via Marcus Nunes‘ Historinhas | The central banker’s club known as the Bank of International Settlements (BIS), suitably HQ’ed in Basel, Switzerland, this past weekend released its annual report, and advocated the globe’s major central banks raise interest rates to combat the chronic lack of aggregate demand and low inflation-deflation dogging the world’s developed economies.

No Picture

World economy 8th July 2014

BIS, money and the “prolonged depression”

SAO PAULO | By Marcus Nunes via Historinhas | The depression may not be “Great”, but it has certainly been “Prolonged”. And like many things, good or bad, that persist, people “get used” to it! And there are those, like the BIS, who think that deepening the depression is worth it if it means reducing the risk of another financial crisis! The world´s major central banks have certainly caused a lot of damage by tightening money in the face of imaginary inflation dangers, but at least they are shrugging off the BIS “recommendations”.

monthy python

World economy 7th July 2014

The Monty Python and BIS sadomonetarism

WASHINGTON | By Pablo Pardo | The Monty Python are back in London, and one of their most famous sketches revolves around the phrase “nobody expects the Spanish Inquisition.” The Bank of International Settlements (BIS) is like the Spanish Inquisition, only less funny and more predictable than the British surreal comedy group: it is the bearer of orthodoxy, even if it means sending everybody to the stake. Its prescriptions are suicidal in economic terms, wrong from a moral point of view, and unjust from a societal perspective. 

money rich falling 604cs042913

Markets 30th June 2014

BIS warns over stimulus’ diminished effect over time; IMF asks for more

MADRID | The Corner | Swiss-based Bank for International Settlements (BIS) is concerned about a troubling disconnection between “markets’ buoyancy and underlying economic developments globally.” The international body representing central banks believes the risk of central banks normalizing monetary policy too late and too gradually shouldn’t be underestimated, pointing out that extremely accommodative monetary policy has a diminished effect over time. Meanwhile, the IMF has been asking to break the lethargy of the European economy with measures against low inflation for months with more stimulus.