World Business News

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Euro official warns powers to halt bubbles may be too weak

Zone(s): Europe ¦ Sector(s): Banking

[24 June 2014, CITY A.M.] Powers to control banks and stop bubbles wrecking the economy may be too slow or too weak to work, top European Central Bank official Vitor Constancio warned yesterday.

Regulators including the Bank of England and the ECB hope to use macroprudential policies to manage the economy, rather than relying on the interest rates alone.