RUMBLINGS of concern over central bank independence have erupted into full-blown debates on attempts by populist leaders to influence decision-making at central banks. Certainly worried about central bank independence is European Central Bank president Mario Draghi, who in a rare move, voiced his concern “in the most important jurisdiction in the world”. There are other leaders in this populist assault on central banks, said The Washington Post. While central banks should not compromise on their independence in ensuring financial and price stability, the timing and accuracy of their actions is important. Columnist Yap Leng Kuen notes that central banks must be independent and also make the right moves.

Source: The Star April 22, 2019 01:07 UTC