Monetary policy frameworks: lessons learned and challenges ahead
· Agustín Carstens, General Manager of the Bank for International Settlements (International)
Summary written by Dark Majestic in its own words · topics: monetary policy and interest rates, inflation and price stability, development and emerging economies
AC · Agustín Carstens Wiki · Bank for International Settlements WikiMonetary policy frameworks: lessons learned and challenges aheadContextLecture on central bank framework reviews; the BIS serves central banks worldwide and helps them learn from the post-pandemic inflation surge.
Why it mattersThe BIS head urges central banks to rebalance frameworks toward preventing inflation surges.
Problems raised- Inflation risks are more two-sided than thought.
- The public strongly dislikes inflation.
- Developments are unpredictable.
Solutions proposed- Rebalance frameworks toward preventing inflation surges.
- Rely less on hard-to-adjust tools.
- Be realistic about what monetary policy can achieve.
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