Central banking between past and future: which way forward after the crisis?

Central banking between past and future: which way forward after the crisis?

Speech

Central banking between past and future: which way forward after the crisis?

By Bank for International Settlements (BIS)

In this high-level address marking the 90th anniversary of the South African Reserve Bank, Jaime Caruana outlines an "intellectual makeover" for central banks following the 2008 financial crisis. He challenges the pre-crisis consensus that price stability alone would ensure financial stability, arguing that financial imbalances can build up even when inflation is low.

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