End of the golden age of central banking?
The Centre for Economic Policy Research (CEPR) has released a new report suggesting that the "golden age of central banking" - a period it defines as 1982-2007 characterised by low inflation and high economic growth - is over.
The report, put together by four international monetary economists, suggests that the challenges presented by the current economic, financial and regulatory crisis are such that central banks need to redefine their roles.
A focus on maintaining price/monetary stability -
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