Flash: Central banking governance framework still in the making – Merrill Lynch and BoA

FXstreet.com (London) - Research at Merrill Lynch and BoA offer their opinion in reforms of governance in Central Banks.

They said that the governance framework necessary to preserve the ECB’s credibility and independence in the new economic policy regime born in the wake of the crisis is still in the making. They explained that the financial crisis has called into question the distinction between financial stability and monetary policy through the use of central banks’ balance sheets to address both financial stability and the economic recession.