The core mandate of central banks is to control inflation. But in the process of doing it, many other problems can emerge. Economies can tank, leading to job and output losses, stock markets and property markets can melt down and banks can fail. In emerging markets, even currencies can crash. How central bankers can deal with such multiple...

The International Monetary Fund (IMF) has said it may again downgrade its already pessimistic outlook for the global economy this month. Given the possibility of a further decline in consumption, more job losses and the risk of a fresh wave of bankruptcies, there is a lot of concern about the path and shape of recovery...