Current Trends in Indian Economy
World at critical point in inflation fight: BIS
- The Bank for International Settlements (BIS) has called for more interest rate increases, warning the world economy was now at a crucial point as countries struggle to rein in inflation.
- The longer inflation stays elevated, the stronger the required policy tightening, the BIS said, warning the possibility of further problems in the banking sector was now “material”.
Inflation
- The Rate of increase in prices of goods and services over a given period of time and fall in the purchasing value of money.
About BIS
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- General Manager – Agustin Carstens
- HQ – Basel, Switzerland
- Founded – 1930
