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Central banking: embracing change

· 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

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· Agustín Carstens Wiki · Bank for International Settlements WikiCentral banking: embracing change

ContextSpeech at the People's Bank of China in Beijing, invited by its governor; the BIS serves central banks worldwide and helps them adapt to change.

Why it mattersCarstens warns that lower inflation is not yet low inflation and asks for patience.

Problems raised
  1. Lower inflation is not yet low inflation.
  2. Services and food inflation are sticky.
  3. Regulatory gaps exist.
Solutions proposed
  1. Keep tight policy until inflation is low.
  2. Embrace change in central banking.
  3. Close regulatory gaps with better coordination.
Read full speech on bis.org ↗

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