ECB’s Asmussen highlights increasing roles of central banks

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A member of the European Central Bank's (ECB) executive board, Jörg Asmussen, on September 11 outlined the changing demands placed on central banks since the onset of the financial crisis.

Speaking at Goethe University in Frankfurt, Asmussen said since the financial crisis central banks had been forced to assume new roles as crisis managers alongside the existing price stability mandate. He cautioned the new role had limits in terms of "effect and legitimacy", since it could undermine other

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