I believe that almost everybody in the central banking and academic communities agrees on four points: First, central banks face an exceptionally difficult task in assessing whether or not asset prices are being driven by fundamentals at any given point in time.
Therefore, while central banks ought to do their best to obtain as much information as possible on the sustainability of asset price developments, they should be aware that identifying bubbles in real time is a very risky business. Thus, the results of their assessment should be interpreted with particular caution. Second, central banks should not target asset prices.