Central Bank: Mark Carney

Mark Carney: One key lesson, he said Wednesday, is that central banks have learned they need a more flexible approach to conducting monetary policy. , according to Winnipeg Free Press. "The clear lesson is that a central bank pursuing price stability without due regard for financial stability risks achieving neither," he told students and academics at the University of Alberta. EDMONTON - Bank of Canada governor Mark Carney says a new age of central banking is being created out of the ruins of the recent financial crisis that if done correctly could help avert, mitigate or at least better manage future economic crashes. In an example he has used before, Carney said the Bank of Canada now realizes that it may need to take an active role in preventing a housing bubble that could impact the wider economy. Effectively, that means the bank is prepared to raise interest rates if necessary to slow down borrowing. (www.immigrantscanada.com). As reported in the news.