Central banks must become ‘market-makers of last resort’ – BoE’s Hauser
Measures used in Covid-19 crisis are insufficient for the long term, BoE official says
Central banks must become “market-makers of last resort” with the ability to backstop market liquidity in crises, a senior Bank of England official has said.
Andrew Hauser, the BoE’s executive director for markets, warned the ad hoc measures used in March 2020 are not suitable for the longer term.
Hauser hinted in his speech on January 7 that the BoE was keen to persuade other central banks to join it in formalising such a framework. He said design features would need to differ between
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