Bloomberg Multilateral institutions such as the World Trade Organization (WTO) need an urgent revamp in order to remain relevant, European Central Bank (ECB) policymaker Pablo Hernandez de Cos said. European Union officials, he said, are the best placed to undertake that rethink. “One of the biggest challenges confronting the WTO and, in general, the system of international institutions, is how ...

Bloomberg Italy’s crippling public debt is set to keep expanding amid chronically low economically growth, the International Monetary Fund (IMF) said. Saddled with Europe’s largest debt burden, the country has benefited from the European Central Bank’s expansionary monetary policy and a period of relative political stability to bring down yields. But its interest costs are still higher than its economic ...

Bloomberg Concern at the Bank of Japan (BOJ) over the effectiveness of prolonged low interest rates appears to be growing, with one board member indicating that a policy review may be needed, a summary of views from the central bank’s January meeting signalled. The member said active discussions over policy are taking place in the US and in Europe given ...