Central banks must guard independence – IMF
Credit easing and the associated balance-sheet expansion could lead to central bank losses, which might provide further ammunition to those seeking to curtail central bank independence, new research from the International Monetary Fund posits.
Independence - in financial, operational and political terms - may thus be challenged just when it is needed most to maintain price stability in the face of growing fiscal problems, a new staff position paper notes.
The research reveals that the most
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