On the other hand, monetary policy should be aware of its implications for financial stability, and so it should tend, in upswings, to be stricter than shortterm inflationary developments would suggest.
Claudio Borio, the current chief economist of the BIS, said: "The more you concentrate on the long-term perspective, the more price stability and financial stability complement each other and the less they contradict each other". 3.2  Monetary policy and price stability  This brings me to the second lead question: Should the monetary policy target be changed?