BIS calls for higher interest rates
Very low interest rates are not in the interests of global financial stability, a major financial organisation has stated.
The warning from the Bank for International Settlements, which says the world's central banks should start lifting rates.
It is concerned that low borrowing costs are fuelling a credit boom and creating an inflationary bubble, especially in emerging economies.
The Bank of England has held the base rate at its low of 0.5% for 27 months.
