Riksbank’s Ingves weighs post-crisis policy legacy
“Leaning against the wind” clashing with inflation target, communications challenges and cash’s decline have shaped the last decade
The inadequacy of monetary policy as a macro-prudential tool, difficulties in explaining ultra-loose policies and falling cash usage have shaped Sveriges Riksbank’s post-crisis decade, said governor Stefan Ingves.
On October 15, the governor reflected on these developments in a speech at the Money Macro and Finance Research Group in London.
Ingves first analysed the use of interest rates as a macro-prudential mechanism to prevent the build-up of financial imbalances in Sweden. The governor
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