BIS’s Caruana calls on central banks to lengthen policy horizon

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Jaime Caruana, the general manager of the Bank for International Settlements, on July 1 said central banks' policy horizon for inflation should be extended in order to allow them to lean against the build-up of financial imbalances.

At the South African Reserve Bank's 90th Anniversary Seminar in Pretoria, South Africa, Caruana said: "Macroprudential frameworks will be part of the solution, with central banks playing a prominent role. But financial stability is too large a task for prudential or

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