Under this view, monetary policy is used to ensuring price stability and macro prudential tools are used to safeguard financial stability.31  28  See Kohn (2006, 2008). 29  See Borio and White (2003), ECB (2005) and White (2006, 2009). 30  See Assenmacher-Wesche and Gerlach (2009), Bernanke (2010), and Dokko et al. (2009).
31  Bank of England (2011) contains a discussion of possible macro prudential instruments. BIS central bankers’ speeches  11  4.1  Monetary and macro prudential policy  The combined use of monetary and macro prudential policy raises a number of questions regarding whether they may interact.