Central bank body BIS flags new unpredictability in interest rate markets

By Marc Jones LONDON (Reuters) – The central bankers’ central bank, the Bank for International Settlements, has urged investors to hunker down for an extended spell of unpredictability in global interest rates, as well as rising pressures in the financial system. The possibility of inflation remaining stubbornly high and requiring major central banks like the U.S. Federal Reserve and European Central Bank to keep borrowing costs at their current elevated levels should not be underestimated, the BIS said. “Clearly there are still some residual differences between what financial markets are seei…

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