WASHINGTON (dpa-AFX) - 'Fake data' is big a threat to economic and financial stability as 'fake news' is to politics, according to European Central Bank.
Speaking at an event in Paris on Friday, ECB board member Benoit Coeure said, 'Just as there are concerns about 'fake news' dominating social media, there is a risk of 'fake', or at least poor quality, statistics driving out better quality ones in public discourse.'
'Actions by economic agents could become less anchored to actual activity and more prone to manias and panics, with obvious implications for economic and financial stability.'
Coeure said that there were growing occurrences of poor quality data out in the market.
Copyright RTT News/dpa-AFX