Thai governor calls for rethink of monetary policy frameworks
New structure should systematically acknowledge negative impact of monetary policy
Central banks around the globe need to "seriously rethink" their monetary policy frameworks, the governor of the Bank of Thailand said today (January 10).
Speaking in London, Veerathai Santiprabhob explained how the current monetary policy stance of many central banks was no longer having the desired effect.
"Much of the forces driving inflation are structural and are not easily amenable to monetary policy. The returns to monetary easing may be limited and most likely diminishing in the face of
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