Natia Turnava, governor of the National Bank of Georgia, has set out the case for pre-emptive monetary policy at the International Monetary Fund’s annual meetings in Bangkok.
During a fireside chat today (October 15), Jihad Azour, the IMF’s Middle East and central Asia director, asked the governor how the central bank discerns whether shocks are transitory or persistent – a core dilemma for policy-makers in an increasingly volatile world.
Although most central banks look at both core and services
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