Focus on rates for policy, keep QE for crises – Carstens
BIS general manager says expanding objectives could “undermine credibility and independence”
Agustín Carstens has said that central banks’ ongoing framework reviews should enable them to act with greater agility.
In a speech at the US Federal Reserve Bank of St Louis on February 3, the general manager of the Bank for International Settlements said that rebalanced monetary policy frameworks should be more reactive to the risks of inflation surges. This, he said, was a clear lesson to be taken from the world’s advanced economies, which had not reacted quickly enough to the post-Covid
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