Otmar Issing, the bank's chief economist, argues that central banks cannot afford to ignore asset prices and credit.

ECONOMIST: Yesterday's financial architecture needs refurbishing

It is also ironic that you cite Otmar Issing, chief economist of the European Central Bank, as a credible expert on such matters.

ECONOMIST: Pressure on inflation

EU. Otmar Issing, now chief economist at the European Central Bank, used to be sceptical of the very idea of a single European currency.

ECONOMIST: Charlemagne