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BIS: Market volatility no reason for central banks to change course

The Bank for International Settlements sees little to fear in the current wave of market volatility globally and is advising central banks to stay on course with rising interest rates. Although normalizing monetary policy remains a delicate matter, "policymakers need not fear volatility as such. Along the normalization path, some volatility can be their friend," said Claudio Borio, head of the BIS' monetary and economic department.

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