Robert Pringle’s Viewpoint: How governments are undermining world finance
Never has it been more important for financial regulators and central bankers to be aware of the law of unintended consequences.
In their efforts to shore up weak banking systems, regulators are in danger of suppressing vital financial signals and distorting incentives. In their efforts to kick-start growth, central bankers may be unintentionally depriving the world economy of essential benchmarks for interest rates.
Yet, they might well reply, ‘even if there is some truth in such criticisms
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