Central Bank of Colombia director calls for new policy tools
Objective is to ‘anticipate potential asset price bubbles’
The Central Bank of Colombia needs a second policy instrument "with counter-cyclical features" to exercise "effective control over growth in the loan portfolio during asset price booms", according to Carlos Gustavo Cano, a member of the board of directors.
In a presentation yesterday in Cancun, Mexico, discussing monetary policy and financial stability, Cano stressed the idea "is to steer regulation towards dealing with the systemic risks in the financial sector as a whole, as opposed to
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