23 Other important considerations relating to issues of monetary and financial stability include: How far should coordination between monetary authorities and regulators be taken? Would a clear and separate assignment of tools and targets be better? Will the introduction of new prudential tools essentially solve this dilemma? All of these questions, and many others, have been brought to the fore by the crisis.
Conclusion Significant progress has been made on the research front regarding key outstanding issues identified in the 2006 document on the renewal of inflation targeting. Valuable, if painful, lessons have been learned from the crisis, and old issues that were thought to be largely resolved have resurfaced, demanding renewed attention.