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Noyer:c.banks didn't have main role in causing crisis

Sun Nov 15, 2009 7:43pm EST

TOKYO, Nov 16 (Reuters) - ECB governing council member Christian Noyer said on Monday that he didn't believe monetary policy played a central role in causing the global financial crisis, and that price stability should remain the main objective of central bank policy.

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"While I doubt very much that monetary policy played a major role in triggering the crisis, I also belive that it can -- and should -- help in the future to better contribute to financial stability," Noyer told a Europlace forum in Tokyo.

"It should be made clear, in particular, that, whatever the new tasks and functions of central banks, price stability should remain the primary objective of monetary policy," said Noyer, who is also the governor of the Bank of France. (Reporting by Nelson Graves and Masayuki Kitano)

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