New Approaches to Monetary Policy in the Context of Actual Financial Crisis

As a result of economic turmoil started in 2007, some questions have been risen whether monetary policy suffers radical changes or just rethinking the details of the basic monetary policy stance. Therefore, in this article, inter alia, we have analyzed the monetary policy relationship with the financial stability. In the context of actual crises, monetary policy should consider whether to rely on credit bubbles and to clean up after their explosion or to interfere and fight against financial fragility during both the financial boom and bust (Lean vs. Clean debate)