Economic news

BIS believes interest rates need to be lifted but trade discords threaten

The globe’s leading central banks were bolstered by the Bank for International Settlements to continue on the path of raising rates yesterday, though they were said that building up trade disputes between the U.S. and China might cause a dangerous downturn.

Photo: REUTERS/Beck Diefenbach

This takes place in the wake of a five-month long period of volatility for the world economy that made the financial market robust growth come to a halt, and President Trump’s introduction of trade duty on multibillion dollar set of goods, provoking an international uproar.

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