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BIS warns of another financial 'crash'


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Start saving your money under the mattress !!

 

 

Booming stock markets distract from threat of excessive lending

Central bankers warn that high-risk borrowers pose danger to stability of global financial markets

 

With only two weeks until the G20 summit of world leaders in Hamburg, the Bank of International Settlements (BIS) said politicians and central banks needed to keep financial markets in check to prevent another crash.

 

Soaring stock markets, which have become detached from underlying values, were another sign that unjustified exuberance had replaced last year’s overly pessimistic reaction to political events such as the US election and the UK’s Brexit vote, BIS cautioned in its annual report published on Sunday.

 

The warning comes as Donald Trump, the US president, is expected to resist attempts by G20 members and his German hosts for closer co-operation in tackling reckless lending at a meeting on 7 July.

 

 

Mark Carney, Governor of the Bank of England says...

 

 

“Leading indicators of financial distress point to financial booms that in a number of economies look qualitatively similar to those that preceded the great financial crash.”

 

He said the countries at risk were not those that were at the centre of the previous crisis, such as Britain. Instead he pointed to mature economies such as Canada and Sweden that largely avoided the last crash but have since allowed huge borrowing and property booms that make their economies vulnerable to a crash.

 

The largest emerging economies of China, India and Brazil were also vulnerable after a period of rapid growth, much of it based on cheap credit.

 

 

https://www.theguardian.com/business/2017/jun/25/booming-stock-markets-distract-from-threat-of-excessive-lending

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  • 2 weeks later...

If saving my money right now is now quite an option and I need to buy an apartment in Greater London. Should I worry about the rise of mortgage rates? Now the situation is unstable and I don't fully understand how it works. If the rates rise will the price drop? Or vice versa? What do you guys think?

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