The Future Of Central Banking Under Post-Crisis Mandates
The role of central banks in preserving price stability and fostering financial stability has varied over time and differed across countries. However, at the beginning of the 21st century a number of common features and principal tendencies emerged. The financial crisis has raised important issues with regard to the role of central banks in safeguarding financial stability, their specific responsibilities and powers for achieving this objective, and the appropriate governance arrangements. The objectives, tasks and governance of central banks have evolved in the light of experience and in order to address serious and pressing policy issues.