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Central banks' exit from the Garden of Eden

· François Villeroy de Galhau, Governor of the Banque de France (France)

Summary written by Dark Majestic in its own words · topics: inflation and price stability

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· François Villeroy de Galhau Wiki · Banque de France WikiCentral banks' exit from the Garden of Eden

ContextSpeech at the Global Interdependence Center conference in Paris; the Banque de France keeps prices stable and adapts to the end of the era of very low rates.

Why it mattersThe French governor says the era of easy stability is over for central banks.

Problems raised
  1. The Great Moderation is over.
  2. Central bank credibility is tested.
  3. Inflation became volatile.
Solutions proposed
  1. Leave the 'Garden of Eden' of easy stability.
  2. Keep credibility strong.
  3. Adapt to a more volatile world.
Read full speech on bis.org ↗

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