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Analysts at RBS note that a decade after the global financial crisis (GFC) and the Bank of International Settlements, dubbed the central banks’ central bank, again warn us the risks are financial.

Key Quotes

“A stronger dollar, higher Fed rates and protectionist punches have forced many, especially emerging economies, to tighten the supply of money and raise its price. However, some succour in recent weeks as the dollar has settled down, supporting those particularly dependant on dollar loans or easy money, like Turkey and Italy. Truth is, the past is not always a foreign country and the spectre of the GFC still hovers.”