Global financial watchdog issues stark warning over further shocks - reports

Recovery is 'losing momentum'

clock • 2 min read

The Financial Stability Board, the global financial watchdog, has warned of “further challenges and shocks” emanating from the impact of higher interest rates on countries’ economies and the property sector.

According to a report by the FT, Klaas Knot, chair of the FSB, told G20 leaders the global economic recovery is "losing momentum", and the effects of the rise in interest rates in major economies are "increasingly being felt". "There will certainly be further challenges and shocks facing the global financial system in the months and years to come," he said. Knot also pointed to the property sector as a potential lurking problem, and one authorities should "closely monitor" for risks. Financial providers to the real estate sector, which is particularly vulnerable to increases to the...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Economics

Consumer confidence dips for first time in three months

Consumer confidence dips for first time in three months

Higher than a year ago

Cristian Angeloni
clock 23 February 2024 • 2 min read
Fiscal rules 'close to meaningless' unless sensitivity to OBR forecasts is reduced

Fiscal rules 'close to meaningless' unless sensitivity to OBR forecasts is reduced

Trio of economists tell Treasury Committee

Cristian Angeloni
clock 22 February 2024 • 5 min read
Fed officials 'highly attentive' to inflation despite recent progress

Fed officials 'highly attentive' to inflation despite recent progress

Outlook is 'uncertain'

clock 22 February 2024 • 1 min read
Trustpilot