Irish deputy governor analyses monetary policy’s role in stability


Stefan Gerlach, a deputy governor of the Central Bank of Ireland, on September 8 said the interaction between monetary and macro-prudential policy requires careful consideration.

Speaking at the Money, Macro and Finance conference at Trinity College in Dublin, Gerlach said while price stability comes first, monetary policy can be used to support macro-prudential polices as a secondary objective.

However, he said, any benefits to financial stability this creates should be measured against the

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