Macroprudential tools need hard, fast rules: BIS
Successful macroprudential policymaking will require principles that are set out with as much rigour as those that govern monetary policy at present, an influential group of central bankers and regualtors said in a report released on Thursday night.
The report, produced by the Bank for International Settlements-based Committee on the Global Financial System, functions as a factsheet on the state of the art of macroprudential policy.
"Central banks have a stake in macroprudential policy due to
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