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Sources of Financial Instability: Challenges for Monetary and Fiscal Policy | Claudio Borio

Hidden Forces

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The Volatility of Interest Rates Is a Source of Financial Instability

The low volatility of interest rates is a source of financial instability. Volkar allowed such high volatulity and interest rights was not because he was trying to get interest rights to be volitied, says the economist. The fact that they pinned the money supply magistrates began to fluctuate broke market's ability to use expectations to beat inflation.

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