Mark Carney, the governor of the Bank of Canada, on Friday called for policy change in order to address the fragilities in the global financial system.

Carney termed the international monetary system "an increasingly unstable hybrid of fixed and floating regimes" and said there was "cause for concern that the current system will repeat the failures of its predecessors."

"All are aware that the decisions, actual or perceived, of a few sovereigns can have a disproportionate, disruptive impact on