Durmus Yilmaz, the governor of the Central Bank of Turkey, on Thursday discussed the dual mandate for central banks during the global financial crisis in ensuring both price and financial stability.

In his opening remarks before a conference in Istanbul, Yilmaz said the role of central banks changed as a result of the crisis as they were forced to address directly not only price stability but also financial stability as well.

Yilmaz said the challenge faced by central banks was to establish a