Challenges for Central Banking

Following the 2008-09 global financial crisis, central banking and monetary policy in many corners of the world came under intense pressure and entered unchartered waters. In the face of unprecedented circumstances, the breadth and scale of central bank operations have been expanded in ways that were unimaginable until recently. In tandem, a fundamental rethinking of central banking and its policy frameworks has been underway. Challenges for Central Banking: Perspectives from Latin America reflects a multilateral effort between the IMF and the central banks of Brazil, Chile, Colombia, Mexico, and Peru to help close the gap in our knowledge regarding the critical challenges confronting central banks in Latin America. The volume begins with a panoramic overview of the considerable progress made to date, and of the challenges that still lie ahead. It then takes up the related issues of spillovers and monetary autonomy in a context of global financial integration, before turning to a reexamination of macroprudential and monetary policy frameworks. Book jacket.