Shirakawa wants financial stability as primary mandate

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Masaaki Shirakawa, the governor of the Bank of Japan, has proposed financial stability be made the key task of central banks.

Shirakawa said in Tokyo on Tuesday: "A primary mandate for a central bank should be to achieve a stable financial environment, that is, a financial environment that is consistent with, and contributes to, sustainable economic growth."

Shirakawa acknowledged that price stability was one important element of achieving financial stability but noted that it was "not the sole

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