New financial stability risks

Interview with Mr Hyun Song Shin, Economic Adviser and Head of Research of the BIS, on risks to the global economy, bonds and inflation conducted by Bloomberg's Tracy Alloway and Joe Weisenthal for the podcast Odd Lots.

Hyun Song Shin discusses some of the chief risks lurking in the global economy today, including the implications of the shift from bank lending to bond-based borrowing and what it means for inflation. Mr Shin also talks about how safe assets like US Treasuries can become sources of stress, such as in March 2020, the gilt crisis of last year and the recent collapse of Silicon Valley Bank. Referencing Chapter II of the Annual Economic Report 2023, he also talks about inflation and the limits of central banking.