Honohan discusses lessons from central banks' response to financial shocks

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Patrick Honohan, governor of the Central Bank of Ireland, on May 8 said there were lessons for central bankers to learn from previous "shocks" to the financial system.

Addressing the Official Monetary and Financial Institutes Forums' Golden Series on World Money conference in London, Honohan said the financial crisis had heralded the return of the "surprise" to central banking.

Honohan said the great "pivotal" moments in central banking history came as a result of central bankers' reactions to

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