Norges Bank’s Qvigstad: monetary policy boards can lead to groupthink
Jan Qvigstad, the deputy governor the Norges Bank, on Tuesday said the popular rate setting framework for monetary policy, where decisions are made independently by a group, does not always produce the best decisions.
Speaking at an event in Drammensveien, Norway, Qvigstad said: "The decision-making strategy, where each individual in a group gives an answer independently of the others, can function well for some types of decisions. But there may also be advantages to allowing the group to arrive
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