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Carstens: "divine coincidence" of fixing more than one problem at once is fading as inflation risks climb.

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Bank for International Settlements chief Agustin Carstens on Friday boosted his stark warning to central banks about a shift to a high inflation era, saying policymakers no longer have the luxury of chasing after goals other than slowing rapid price gains.

The global economy is likely moving into an era where production costs could be driven higher by fraying trade cooperation and a smaller share of the global population available for work, Carstens said in the released text of a speech at the Fed's Jackson Hole conference.

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Bank for International Settlements chief Agustin Carstens on Friday boosted his stark warning to central banks about a shift to a high inflation era, saying policymakers no longer have the luxury of chasing after goals other than slowing rapid price gains.

The global economy is likely moving into an era where production costs could be driven higher by fraying trade cooperation and a smaller share of the global population available for work, Carstens said in the released text of a speech at the Fed's Jackson Hole conference.

Keep reading...Show less