RBA’s Bullock says central banks are ready to ‘take action’
Old school of thought on asset bubbles has been abandoned following global crisis
Central banks are more likely to take action if risks appear to be building than they were before the global financial crisis, an assistant governor at the Reserve Bank of Australia has said.
Speaking on March 14, Michele Bullock discussed whether policymakers look at financial stability differently following the global financial crisis.
Bullock said that prior to the financial crisis there was a “school of thought” which maintained that since asset bubbles could not be detected in advance, it
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