Romania’s Ctrl Bker Highlights Importance Of Financial Stability

Romania’s central bank governor Mugur Isarescu said that price stability, the central bank’s main objective, cannot be ensured at the cost of financial stability and excessive external imbalance.

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"It is unacceptable for us to secure stability for prices, the central bank’s paramount objective, sacrificing financial stability or unleashing some excessive external imbalance. Between a quick disinflation, but an unsustainable one, and consistent financial and macroeconomic stability, it would be wise for us to choose the latter. This will undoubtedly bring us to price stability," said Isarescu within a speech held in Barcelona.

The banker made the statement within a ceremony held in his honor, and which was presided by Doctor Jaime Gil Aluja, president of Spain’s Royal Academy of Economic and Financial Sciences. The governor has been a member of the Academy since 2007.

During the ceremony, the official talked on the theme “Problems with the monetary policy in an emerging country. Romania’s case!.”

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