TOKYO (Reuters) – ECB governing council member Christian Noyer said on Monday he did not believe monetary policy played a central role in causing the global financial crisis, and that price stability should remain the main objective of central banks.
“While I doubt very much that monetary policy played a major role in triggering the crisis, I also believe that it can — and should — help in the future to better contribute to financial stability,” Noyer told a Europlace forum in Tokyo.
Welcome to Raw Japan, one of two new Reuters blogs focusing on Japan. This one is in English. The other is in Japanese and published on www.reuters.co.jp. They join other Reuters blogs that can be found at http://blogs.reuters.com/us/.These new blogs reflect a determination to promote intelligent discussion of Japan. Most of the entries will come from Reuters journalists who depend on their ability to delve behind the scenes and produce balanced news reports about a country that is an economic powerhouse, a key strategic player, home to some of the world’s best known brands and a cultural trend-setter. The site will also be a flexible forum for the examination of issues that make Japan unique – from its politics and economy to society, culture, entertainment and history.We are excited about these blogs because they offer an opportunity to engage readers directly on issues of common interest. True to Reuters principles, we undertake to be impartial and fair. If we stray from that path, please pull us up. We count on your comments and insight to make this discussion as stimulating as we would like it to be.Thank you for your interest, and I look forward to seeing you on Raw Japan! Domo arigato gozaimasu.Nelson Graves,Editor, JapanReuters NewsPhoto: People admire the moment the sun rises just above Mt. Fuji from atop Ryugatake mountain in Fujikawaguchiko town, west of Tokyo, on New Year’s Day, Jan. 1, 2009. REUTERS/Yuriko Nakao