Navigating monetary policy trade-offs: some conceptual and practical considerations for Asia-Pacific economies

Hamza Malik and Vatcharin Sirimaneetham

No PB41, MPDD Policy Briefs from United Nations Economic and Social Commission for Asia and the Pacific (ESCAP)

Abstract: Monetary policy considerations should go beyond concerns of near-term economic growth and inflation, and be mindful of other issues, such as financial stability, exchange rate movements and capital flows. In particular, a monetary policy stance that is kept too loose for too long could undermine domestic financial stability because firms and individuals tend to undertake riskier investment decisions when their balance sheets look stronger than they would otherwise. In many regional economies, financial stability is already being closely monitored.

Date: 2016-04
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