Central Banks🏦 Assure✅ ‘Orderly’ Brexit

  |   India News

By Fråst🐺

RBI🏦 chief Raghuram Rajan😎 and other central bank chiefs👔 have assured India that they have the means to deal with the financial volatility⚠ that will follow Britain’s🇬🇧 Brexit decision. On Sunday, Jaime Caruana, BIS GM👔 for the Bank for International Settlements🏦 (BIS) said that the central banks are watching🔎 the situation and ensure✅ “orderly functioning” of the markets. Caruana said that the central banks🏦 and private sector have plenty of contingency🚨 plans to limit the Brexit turbulence🌪. He also said that financial systems are more resilient to such market disturbances💥 due to stronger capital and liquidity buffers💪 in the private sector. During the BIS annual meeting👥, Agustin Carstens, Chairman💺 of the Global Economy Meeting (GEM) said💬, “Central banks will carefully monitor market functioning and stability, and cooperate closely.” GEM🌐 consists of the governors of 30 BIS member central banks🏦 in India as well as other major advanced and emerging market economies.

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