Central banks have an important role to play in macro-prudential policymaking, even if precise arrangements are "driven by the political economy and traditions", according to an International Monetary Fund (IMF) report published today on key aspects of macro-prudential policies.
The report, which proposes a framework to inform the IMF's country-specific advice on macro-prudential policy, encourages national authorities to harness central banks' expertise in identifying systemic risks as well as
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