[Kiri Post]: At the Francophone Central Bank Governors meeting in Phnom Penh, European Central Bank (ECB) President Christine Lagarde issued three conditions for central banks to retain autonomy as global economy sees transformations 

Rising challenges in maintaining central bank independence as they undergo frequent supply shocks, fiscal pressures and erosion of trust in public institutions, have called for a clarity of the mandate given to them, direct communication with citizens and preserving the room for monetary policy manoeuvre, European Central Bank (ECB) President Christine Lagarde said in Phnom Penh on Thursday.

"Today, this [economic] environment is undergoing a transformation. And the framework in which we operate has become more demanding," she said during the 28th meeting of Francophone Central Bank Governors, themed "Central Bank Autonomy in the Face of State and Public Expectations", from May 28 to 31.

The conference, hosted by Cambodia for the third time after 1996 and 2011, is discussing the scope of central bank autonomy in a world facing developments in economic and social realities, with people and governments placing high expectations on central banks to manage situations.