Claudio Borio says central bank independence is tied to globalisation

borio-claudio
Claudio Borio

The same forces that support globalisation are behind central bank independence – and so the political forces turning against an open global system also pose a threat to central banks, Claudio Borio writes in a new paper.

The head of the monetary and economic department at the Bank for International Settlements examines a “threefold challenge” facing central banks in the essay, based on an earlier speech. An economic challenge from the stubbornness of low inflation, an intellectual challenge as

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