Carney: Govts must embark on reforms to avoid 'sizeable downside risks'

Relying too much on central banks

Bank of England governor Mark Carney has warned the global economy could become trapped in a low growth environment if governments across the globe continue to rely solely on central banks to solve economic problems.

Speaking at the G20 meeting in China, Carney (pictured) said the current "low growth, low inflation and low interest rate" environment could become permanent if decision makers do not take urgent action. The Telegraph quotes the governor of the UK's central bank saying the global outlook is being "plagued" by "sizeable downside risks". IMF urges central banks to protect 'highly vulnerable' global economy Carney said monetary policy instruments at the disposal of policymakers are not a panacea for economic problems, though he stressed central banks have not run out of ammunition and ...