Central banks are not here to make profits
· Agustín Carstens, General Manager of the Bank for International Settlements (International)
Summary written by Dark Majestic in its own words · topics: inflation and price stability
AC · Agustín Carstens Wiki · Bank for International Settlements WikiCentral banks are not here to make profitsContextOp-ed by Agustín Carstens, General Manager of the BIS, published by the Financial Times, 7 February 2023.
Why it mattersCarstens defends central banks that face losses from fighting inflation.
Problems raised- Central banks face losses from higher rates.
- Losses could hurt trust.
- Some confuse central banks with businesses.
Solutions proposed- Explain that central banks serve the public good.
- Accept losses to fight inflation.
- Maintain trust and credibility.
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