People walk past the IMF Headquarters Building during the 2018 Spring Meetings of the International Monetary Fund and World Bank Group in Washington, DC, April 17, 2018. / AFP / SAUL LOEB
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Threats to the global financial system are rising, with the price of risky assets surging in a manner reminiscent of the years before the global financial crisis, the International Monetary Fund warned. Downside risks to world financial stability have increased "somewhat" over the past six months, the IMF said Wednesday in the latest edition of its Global Financial Stability Report. The IMF noted that investors aren't currently pricing in the risk of sharply higher inflation over the next few years, leaving markets vulnerable to an "inflation surprise".The emergence of cryptocurrencies represents a new source of vulnerability to the financial system, Adrian said, adding that risks could arise from leveraged positions taken by investors in these assets, which only take digital form.
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