Imbalances could treble in next two decades: Bank's Haldane


Financial integration and differences in savings behaviour could treble global imbalances by 2040, Andy Haldane, the executive director for financial stability at the Bank of England, said in a speech published Tuesday.

Cross-country GDP convergence was one structural factor which would shape the path of financial integration, Haldane said, noting that the convergence of international income levels is a well established empirical phenomenon. "Accompanying this GDP convergence is likely to be a

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ESRB narrows its macro-prudential tools

The European Systemic Risk Board is about to announce a slimmed-down list of potential macro-prudential tools, but who has the power to use them is still the subject of debate. By Michael Watt

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