BIS steps up pressure to end financial sector support

"Emergency-room treatment" doled out by central banks to save their economies and financial sectors during the crisis is now posing a real threat to the recovery, the Bank for International Settlements (BIS) warned today. The bank argued that stimulus spending has reached its limits "in a number of countries", and called for immediate deficit-cutting measures. It added that keeping interest rates low and liquidity high would create "risks for financial and monetary stability", calling for cen