ECB's Constancio: macroprudential policy should pre-emptive

April 26, 2016 5:18 PM

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FRANKFURT, April 26 Central banks should have responsibilities over both monetary and macroprudential policies and their action should be both pre-emptive and strongly counter-cyclical, European Central Bank Vice President Vitor Constancio said on Tuesday.

"Macroprudential policy is complementary to monetary policy and should share the same status as a policy area," Constancio told a conference. "Both areas need to work in close co-operation; central banks are more sensitive to macro-financial stabilisation goals; they possess more information about f...

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