Central banks are "just doing their job": Noyer

Christian Noyer, governor of the Bank of France and a member of the governing council of the European Central Bank (ECB), made a strong defence of recent actions by central banks.

Writing in Tuesday's Financial Times, he notes that the recent actions of central banks in Europe and the US to provide liquidity to interbank money markets have raised valid questions, particularly a concern that the monetary authorities "were bailing out speculators, thus creating the same kind of moral hazard tha