BoE deputy clashes with academics over use of leverage ratio
Paper argues leverage ratio “harms” pass-through of monetary policy
A deputy governor from the Bank of England (BoE) has clashed with two academics at the annual Jackson Hole economic symposium, challenging their argument that the leverage ratio "harms" the pass-through of monetary policy.
Speaking today (August 26) in Wyoming, BoE deputy Minouche Shafik said regulatory changes that had come about after the financial crisis were "net beneficial to society".
"They are not going to be rolled back," she said, though she acknowledged policy-makers could and should
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