Fundamentals of Central Banking: Lessons from the Crisis
Author(s): G30 Working Group
This major study surveys the history of central banking, focusing on evolving role of central banking, and assesses how policies and practices have shifted in response to the 2007-2009 Global Financial Crisis. The report identifies three continuing core principles for central banking and ten observations on how central banks may consider adjusting their roles going forward to better prevent and address future crises. The report warns central banks cannot be the only game in town. Sustained and robust economic growth requires governments to urgently undertake the fiscal, regulatory, and other structural reforms needed to support growth.