Monetary policy alone can't fix global woes, says FSB's Carney

Tokyo

FINANCIAL Stability Board (FSB) chairman Mark Carney warned on Thursday that the challenges global policymakers face in a low nominal-growth environment cannot be solved by ultra-loose monetary policy alone.

Mr Carney, who is also Bank of England governor, said the biggest vulnerability the global economy faces is its low nominal-growth and low-interest rate environment that creates great challenges for companies, sovereigns, bank profitability and policymakers.