Open Forum: Market maker of last resort presents host of issues for central banks
Acting as market maker of last resort throws up a host of issues for central banks, but in a crisis they might find their options are limited, panellists at the Bank of England's (BoE) Open Forum said today (November 11).
During the 2008 crisis the BoE acted as a market maker of last resort in sterling bond markets, when they showed signs of "dislocations", as BoE deputy governor Minouche Shafik put it during a panel session. It was an important market, showing unusual activity over an extended
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