Coordination was unprecedented, says Goodhart

The joint action by five of the world's leading monetary authorities was a move unprecedented in central banking, said Charles Goodhart, a former member of the Bank of England's monetary policy committee.

Discussing the move with Central Bank News, Goodhart said: "It was not coordination on interest rates, which had happened before. This was a coordination of liquidity management, which I do not think has happened before."

Goodhart said it was unclear whether the joint action was responsible