Juan Toro

Over the weekend I read this speech by Paul Tucker of the Bank of England. It is pretty interesting and premonitory. The speech was delivered in April and addresses the two main imbalances he foresaw in the global economy at the time he delivered the speech: US current account and the increase of credit risk transfer (what he calls vehicular finance).

He considers the possibility of shocks on these two fronts and reviews the policy implications. A good reading that foresaw the policy actions taken by the Fed and the ECB in mid August.

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Posted on 4 Septiembre 2007 in Financial Markets

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