The end of the monetary easing cycle in the US and the proliferation of negative interest rates in different markets has created an "unprecedented scenario" for the global economy, says Bank of Spain governor, Luis Linde.

The current situation "incorporates undoubted risks to financial stability and possible highly volatile movements in the prices of financial assets," Linde noted today, at a conference in Granada.

Nevertheless, Linde expects a "return to more consistent performance curves