The Bank for International Settlements (BIS) says banks have done their bit to help economic recovery and now governments must do more.
国际清算银行称，银行对经济复苏已经尽力了，政府必须付出更多努力。
The Basel-based
organisation1 - usually
dubbed2 the "central banks' central bank" - believes it is time to end the "whatever it takes" approach.
It says it wants to see a return to "strong and sustainable growth".
Last week the US central bank said it planned to stop its asset purchase programme, sparking market
volatility3.
In its annual report, the BIS said the world's central banks had done what they could to
offset4 the worst effects of the six-year long global credit crisis.
As the credit
crunch5 hit, central banks tried a number of tactics to try to keep the money flowing,
initially6 cutting interest rates and later adding in
quantitative7 easing, buying in assets and releasing vast sums into the
banking8 system.
But now that the world was "past the height of the crisis", it was time for such interventionist policies to change.
'Forceful'
Governments should oil the economic wheels by reforming labour markets and
undertaking9 a "forceful programme" of "repair and reform" as the only way to bring about a
lasting10 economic
revival11, the BIS said.
"Although six years have passed since the
eruption12 of the global financial crisis,
robust13, self-sustaining growth still
eludes14 the global economy", the report said.
"During this time, central banks in advanced economies have been forced to look for ways to increase their degree of accommodation. But central banks cannot solve the
structural15 problems that are preventing a return to strong and sustainable growth."
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