Ex-Bank deputy wants shift in monetary policy remit


Central banking must revise some of its most closely held tenets in the aftermath of the financial crisis, a former chief regulator has said.

Howard Davies, the founding chairman of the Financial Services Authority and a former deputy governor at the Bank of England who is now the director of the London School of Economics (LSE), on Tuesday said the myopic focus on price stability needed to be rethought, with the resultant policy framework finding a greater role for financial stability.

"The UK'

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