IMF Says Central Banks’ Broader Mandates May Reduce Independence

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Central banks that introduced tools other than policy interest rate to guide economies may find expanded roles imperil their political independence, says IMF staff. "Independence is clearly still desirable with regard to price stability," may prove "politically difficult under expanded central bank mandates" IMF Critical issue facing central bankers may become "how to protect the independence of monetary policy decisions if the government chooses to exercise greater oversight on new

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