Research to focus on stability: Buba’s Weber
Central-bank focused research should concentrate on how financial stability can be guaranteed long term and what role can and should monetary policy play in it, said Axel Weber, the president of the Bundesbank.
Weber said the financial crisis showed that it was for central banks' own benefit to have an interest in financial stability given that functioning financial markets were a prerequisite for effective monetary policy and therefore for achieving of price stability.
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