ECB article calls for ‘consistent’ macro-prudential policies
Policies should be applied consistently across the eurozone to avoid spillovers
Macro-prudential policies must be applied consistently across the eurozone to counter the threat of spillovers, according to a ‘special feature' in the latest European Central Bank (ECB) financial stability review, released today (May 28).
The article, prepared by Stephan Fahr and Dawid Żochowski, notes that in a financially integrated monetary union "there is a large potential" for macro-prudential policies to spill across borders.
Therefore the ECB, it explains, monitors the extent of cross
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