IIF’s Abed: financial stability a central bank task
The crisis has clearly revealed the inadequacy of the traditional thinking regarding central banks' singular focus on price stability, said George Abed, a special adviser to the managing director of the Institute of International Finance and a former governor of the Palestine Monetary Authority.
Abed said the pursuit of monetary stability could be distinguished from that of financial stability, but noted that the two almost become fused into one in times of extreme market stress. He said those
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