But why do we need central banks at all? This is not the place to give a comprehensive answer to this question.1 But it might be worth noting that, to the best of my knowledge, no country in the world currently operates without the services of a central bank.
We should keep in mind that the search for yield driven by low interest rates could cause a concentration of funds in the real estate market or risky assets, amplifying financial imbalances. The possibility of increased household and corporate credit risks and their effects on financial institution soundness should also be closely monitored.