IMF says central banks should place greater emphasis on avoiding asset price busts
Sep 22nd, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The IMF says central banks’ mandates may need to be expanded to include explicit concerns for macrofinancial stability and they could usefully place greater emphasis on avoiding asset price busts. But policymakers working under a broader approach to monetary policy would need to explain very carefully why actions are being taken, what the immediate objective is, and how actions are consistent with longer-term objectives of macroeconomic and financial stability.