BIS: Central banks must end 'whatever it takes' policy
They finally are stopping the money transfer from taxpayers to banks. Acording to some stats so far each US taxpayer payed about $85K for "saving" the banks. But I don't believe that it will be stoped yet
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The Bank for International Settlements (BIS) says banks have done their bit to help economic recovery and now governments must do more.
The Basel-based organisation - usually dubbed the "central banks' central bank" - believes it is time to end the "whatever it takes" approach.
It says it wants to see a return to "strong and sustainable growth".
Last week the US central bank said it planned to stop its asset purchase programme, sparking market volatility.
In its annual report, the BIS said the world's central banks had done what they could to offset the worst effects of the six-year long global credit crisis.
As the credit crunch hit, central banks tried a number of tactics to try to keep the money flowing, initially cutting interest rates and later adding in quantitative easing, buying in assets and releasing vast sums into the banking system.
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