Unconventional central banking here to stay, says ECB paper

Frankfurt

CENTRAL banks around the globe are likely to get even broader mandates in the post-crisis era and will retain many of their often improvised unconventional tools, according to research published by the European Central Bank on Wednesday.

Banks will increase their focus on financial stability, use more macro-prudential tools, communicate more actively and may continue to cross the line into the realm of politics, said an ECB paper based on surveys of central bankers and academics.