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Jaime Caruana

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Long-Term Issues For Central Banks

by Jaime Caruana, Kevin Warshvia Bank for International Settlements
Wednesday, August 9, 2017

The global political, economic and financial landscape is constantly evolving. Some of the changes may prove short-lived. But others may be slow-moving and persistent, and only detectable over time as evidence accumulates. Although central banks’ day-to-day operations and policymaking tend to focus on near- or medium-term developments, longer-term trends and structural changes will at some point come into the picture – not least because of their impact on the economic relationships that are central to policy formulation and analysis.