The biggest choice facing anyone appointed to a state office is to disappoint the people who put them there in the first place. In his first significant policy announcement, which he will make in the next few days, the Central Bank‘s new governor Gabriel Makhlouf will undoubtedly incur the wrath of the government.
This Wednesday, Makhlouf will announce the outcome of the bank‘s annual review of the so-called macro-prudential rules, the measures that...
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