Central bank independence key to keeping inflation in check
Persistent fiscal deficit can put upward pressure on inflation, BIS analyst says
31 August 2023 - 20:54
A high degree of central bank independence is key in keeping inflation low especially when fiscal policy is profligate rather than prudent, says Bank for International Settlements’ (BIS’s) head of emerging markets Fabrizio Zampolli.
Speaking at the SA Reserve Bank’s biennial conference in Cape Town on Thursday, Zampolli warned that failure to retain central bank independence could lead to unsustainable public finances that can trigger or amplify financial instability...
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