Bank for International Settlements’ quarterly health check warns global economy resembles era just before financial crashInvestors are ignoring warning signs that financial markets could be overheating and consumer debts are rising to unsustainable levels, the global body for central banks has warned in its quarterly financial health check. “The vulnerabilities that have built around the globe during the long period of unusually low interest rates have not gone away. High debt levels, in both domestic and foreign currency, are still there. Woodford said he was concerned that historically low levels of interest rates in most developed nations over the last decade were pushing asset prices to unsustainable levels. Last week the UK’s central bank reported that consumer debt in October had grown by 9.6%, more than four times the average for wage increases of 2.2%.

Source: The Guardian December 03, 2017 17:15 UTC