Stability role necessitates new policy instruments

Central bankers should be given an additional policy instrument if they are asked to ensure financial stability, said Hans Genberg, the executive director responsible for research at the Hong Kong Monetary Authority.

"A central bank that is trying to achieve an inflation target while at the same time minimising variability of output should ideally have two instruments, and adding a third objective related to financial stability would require an additional instrument," Genberg said. "We may need

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account