Challenges To Central Banking from Globalized Financial

Increasing global financial market integration is presenting new challenges as central banks seek to attain low inflation and financial stability. These were the subjects of "Challenges to Central Banking from Globalized Financial Systems," a conference hosted by the IMF in September 2002. The conference volume examines key challenges, such as the choice of nominal anchor for countries susceptible to shifts in capital flows, what can be done to prevent and deal decisively with financial crises, and how central bankers should think about the difficult choices when monetary objectives and financial-stability objectives come into conflict.