World economy faces 'pivotal moment', central bank body BIS says

LONDON (Reuters) -Trade tensions and fractious geopolitics risk exposing deep fault lines in the global financial system, central bank umbrella body the Bank for International Settlements, said in its latest assessment of the state of the world economy. Outgoing head of the BIS, often dubbed the central bankers' central bank, Agustín Carstens, said the U.S.-driven trade war and other policy shifts were fraying the long-established economic order. He said the global economy was at a "pivotal moment", entering a "new era of heightened uncertainty and unpredictability", which was testing public trust in institutions, including central banks.