THE CHALLENGES FOR CENTRAL BANKS

摘要

Central banks have broadly embraced the idea of being responsible for financial stability. This is perhaps partly because someone has to be; and they are more likely to be able to do it than other parts of the public sector. Moreover, perhaps they hope that goal conflicts will not materialise; or, in common with Mr Micawber, that 'something will turn up'. But they are unlikely to be enthusiastic about it.