BIS issues warning over 'violent' market correction

The organisation's head of market committee Guy Debelle said the low levels of volatility in the financial markets witnessed for much of the year are not consistent with global economic and political problems seen this year. He attributes this to investors blindly believing central banks' guidance and taking on unnecessary bets they would not ordinarily take. Speaking in Sydney, Debelle, who is also chief of financial markets at Australia's Reserve Bank, said: "While there is more forward guidance from central banks in place than in the past, investors do not have to believe it. "I...