BoE's Bean on global demographic change

In a speech 'Global demographic change: Some implications for central banks' given on 28 August Charles Bean of the Bank of England said although central banks will need to adapt to the changes brought about by an ageing population, for the most part the really big policy challenges will be for governments to deal with.

U.K. financial markets and house prices may be subjected to ``abrupt movements'' in the years ahead as investors adapt to an aging population.

``Decisive action may only then be

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