Should central banks take account of house prices?
Economy Matters: Economist John McDermott ponders the correct monetary policy response to runaway house prices.
John McDermott
Tue, 16 Mar 2021
For a long time, central banks worldwide have been mandated to achieve low inflation and have done so successfully. The mandate requires that interest rates are set so inflation is neither too high nor too low. Of late, this has needed central banks to keep interest rates very low. Unfortunately,
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John McDermott
Tue, 16 Mar 2021
Contact the Writer: john.mcdermott@motu.org.nz
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Should central banks take account of house prices?
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