Online debates - 2011 series
This year, we present to you the Central Banking ON AIR debate series, sponsored by BNP Paribas Securities Services.
The debates will cover the most important issues facing the profession and will give you, the viewer the chance to comment and put your questions through in advance of the live debate. You can then watch expert panellists discuss and respond to your comments live online.
LIVE: 1 March 2011 at 8.30 GMT
With much of the economic theory that has influenced central banking in recent decades undermined by the crisis, some argue that policymakers can no longer adhere to the rules-based frameworks founded in such theory.
Further, as officials must at times grapple with decisions where the risks are unmeasurable, policy must on occasion be based on officials' discretion rather than predetermined rules. However, others believe that without careful attention to rules that are in line with their mandates, ad-hoc actions may undermine central banks' credibility.